November 6, 2013
SEC Comment file 4-637
Dear Comment file 4-637,
I urge your - the Securities and Exchange Commission - to promulgate a rule requiring publicly traded corporations to fully disclose to the public all of their political spending.
The influence of corporate political spending has deeply corrupted our electoral process, and to correct this problem the extent of these contributions, by source, must be understood by legislators and the public. The disclosure I am requesting you put into binding rules is a first step to this necessary correction to our electoral process.
The Supreme Court's ruling in Citizens United v. Federal Election Commission, which allows publicly traded corporations to spend - in secret - their investor's money on political activity is sickening. But rulemaking can correct the problem this ruling has created.
The public generall - and shareholders in particular (which is the vast majority of us at least through pension plans - NEED the the full scoop on how much the corporations we are invested in are spending on candidates and initiative measures -- including specifically which ones are being promoted or attacked. Importantly, disclosures must be timely regarding on-going election campaigns and other political processes, and need to be posted promptly on the SEC's web site.
Thanks for your consideration.