March 28, 2014
I am deeply concerned about the influence of corporate money on our electoral process.
In particular, I am appalled that, because of the Supreme Court's ruling in Citizens United v. Federal Election Commission, publicly traded corporations can spend investors' money in secret.
I am writing to urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose all their political spending and to do so in a timely manner. Seriously, would 30 days from the time the spending was done be all that difficult for corporations to do? Also, I would like to know exactly how much money is going to who. If the initial recipient is just a "front" group, I would like to know who is ultimately behind the group. Finally, if money is being given to the corporation to be ultimately funneled to a political purpose, I would like to know who is providing the money and whether or not the contribution is allowed by American laws.
Both shareholders and the public must be fully informed as to how much the corporation spends on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SEC's web site.
Thank you for considering my comment.