May 9, 2015
Shareholders need to know how their money is being used. It is a simple and direct right in ownership.
Stockholders share in the risk, the loss, and the potential gain. They vote in various budgets. However, they are not given the true analysis of the expenditures. This is especially true when it comes to (at least to the stockholders) blind funneling of monies into political campaigns and political spending.
You as the Chair and the SEC have the duty to protect investors and promote the public interest. We count on you. It is a baseline of trust that provides most of us the willingness to participate in business through stock investment.
The backroom boards taking money out of a corporation's monies to spend in support of policy or candidate without the stockholders full knowledge and agreement is not just horrible, it is corrupt. it is stealing. And it is an issue of absolute importance to you because it is your job to correct it by issuing a rule requiring disclosure of political contributions by publicly traded companies.
It needs to be done immediately. This is of utmost importance to the SEC's reputation, to both companies and stockholders, to the continued growth of our businesses and to our democracy.
In my own humble opinion, if corporations are "people", then these people are lying through omission, stealing from their fellow people (both human and paper), and cheating their government that they claim (at least in their information handouts) that they love and support so much.
Corruption at the highest level.
Please fix it, Now.
Please place a rule on the unified agenda by the end of May 2015 that will require disclosure of political spending, as laid out in file number 4-637.JoAnn Durfee