January 18, 2012
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 investor's money on political activity in secret -YES, 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 am disgusted that I, as a corporate shockholder in several of American corporations, have no doubt seen my investment dollars spent to elect and reelect US Senators and Representatives without my ever knowing how much is being contributed to that end, when those same fund should be used for, among other things, R&D and better work place emvironments for employees!
The SEC has the regulatory authority to end this practice of secrecy and force corporate America to fully and openly disclose how much and to which politicians stockholder investment dollars are being given.
Thank you for considering my comment.
John Andes
Mountg Juliet, TN