Subject: File No. 4-637
From: Max Kummerow

February 9, 2012

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 for two main reasons:
a) Stockholders who may disagree are having their money spent for a purpose not related to corporate aims. They are being robbed.
b) Obviously most of the donations amount to what economists call "rent seeking" that is, policies that allow excess profits for those with political pull. Not good for the economy or the company. A kind of crony capitalism bound to fail.

Thank you for considering my comment.


Max Kummerow