Subject: File No. 4-637
From: Michael Bandfield

January 18, 2012

I am deeply concerned about the influence of corporate money on our electoral process. This is just one example of corporate influence run amok. Let's end this stupidity and simply refine the definition and limits of corporations. Yes! It is that easy.

Corporations are entities defined by corporate law they act within the law. It is often stated that left to their own devices corporations will do the 'right thing'. This is where we go wrong - very wrong!. 'Right' implies moral or just. Sadly, we can no longer assume that corporate people will do the right thing. (They may not even be legally allowed to do the 'right' thing.) They will do the LEGAL thing. Legality is not bound by common sense and decency. In these times we should not expect "self control" beyond legal constraints from corporate legal entities. We must not apply moral attributes to corporations and expect them to limit their actions to the moral and just. If the legal, but immoral or unjust options are advantageous to their own self serving goals they will choose the legal advantage. They will ultimately seek out the best advantage for their own purposes as allowed by law.

Have no empathy for corporations. It is time that we the people, specifically define corporate laws to constrain corporate behavior to remain within limits appropriate to a legal entity and do not assume them to have, nor legally ascribe to them, attributes and rights of a living, sentient human being or citizen of the United States.

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 investor's money on political activity 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.

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.

Michael Bandfield

Klamath Falls, OR