March 28, 2014
SEC
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. Federal Election Commission, publicly traded corporations can spend investors' money 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.
I find it very irratating that unions must set up separate political committees to collect funds from their members to use in campaign while corporations can spend unlimited amounts of money through SuperPacs, trade & lobbying groups without even getting an authorization from stockholders. No one should be allowed to make undisclosed contributions to any elected official or candidate.
Thank you for considering my comment.
Sincerely,
Rita Lamonica