February 9, 2012
Securities and Exchange Comm.
Dear Securities and Exchange Comm.,
I understand that the SEC has the power, if not to end the unlimited corporate funding of our elections, at least to end the secrecy currently surrounding which companies make these contributions, and to what candidate or PAC.
We have already seen the way in which the Citizens United decision has allowed corporations to influence democratic campaigns, thereby reducing or even eliminating the influence of individual people of this country, whose opinions and contributions should be representative in a democracy. And it is only getting worse. If money represents speech, this Supreme Court decision skews representative democracy in favor of the very rich, including corporations, thus creating an oligarchy in which the people have little or no voice.
Until legislation can address this issue, it is essential that all corporate contributions be transparent. That there should be full disclosure of what companies are making contributions on behalf of which candidates, and in what amounts.
The SEC should use its authority to provide consumers and shareholders, as well as the American people, with this important information.