February 22, 2012
Dear SEC Commissioners,
Please do not give in to industry pressures on Section 1504 of the Dodd-Frank Act (the Cardin-Lugar Amendment) - and make sure that ALL companies are covered, every country and every project gets reported, and loopholes that would allow large sums of money to go unreported are closed.
On Section 1504, please follow the language of the law, not the demands of industry. Exemptions in Section 1504 will make the law ineffective. Strong rules on 1504 will maintain America’s leadership on transparency, and other countries will follow. Please release the rules for with no exemption and no loopholes. Letting private interests run rampant only contributes to the inequitable distribution of wealth throughout the world communiity, of which every country is a part. It will continue to threaten the ever more fragile thread of financial stability in the US and abroad. How can we continue to promote the interests of the very few over the well-being of so many?