Mar 21, 2012
Securities & Exchange Commission Rule Comments
Securities and Exchange Commission: Rule Comments,
Disclosing political spending; it's the only way to have a real idea of what corporations will dominate when certain people are voted to office. Those who do know have an advantage akin to insider trading. Secret meetings with corporations in the past reinforces the need for disclosure, especially with the strong relationships formed by those companies and those who they help vote into office, often giving them jobs after they leave office. There are too many benefits to disclosure than drawbacks, except for the very few individuals that benefit greatly from the secrecy.
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. FEC, 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.
Sincerely,
Stephen Sherry