February 5, 2013
Dear Members of the Securities and Exchange Commission,
Please end secret political spending by regulated corporations. Issue a set of rules that require publicly traded corporations to openly disclose ALL their spending on political and lobbying activities.
While some spending may be appropriate relative to their business mission, it has the potential to also undermine our democracy, which depends on majority influence of the people, openness and accountability.
Given the wealth and power corporations have to influence many aspects of public well-being and economic success, it is inappropriate for individuals or small groups in these corporations to influence the public process secretly. It is also fundamentally inappropriate for them to be able to spend (perhaps squander) what is shareholder money (not theirs) in these areas of wider influence, without direct and specific accountability to every shareholder.
Shareholders and the public deserve to know how much each corporation spends on lobbying and politics (directly and through intermediaries), and especially which candidates, causes and organizations are being promoted or attacked.
We thank you for taking this request into account.
Sincerely,
Mr John & Mrs Diana Lamb