Showing posts with label Securities and Exchange Commission. Show all posts
Showing posts with label Securities and Exchange Commission. Show all posts

Wednesday, April 11, 2012

Lack of transparency of corporate political donations

A mutual fund recently asked its clients to petition the Securities and Exchange Commission for transparency in political contributions.  The fund included a website to do so.  The suggested message was long-winded and so I wrote my own very brief statement:
If corporations do not have the right to vote, then why do they have the right to contribute to political campaigns?

If corporations claim it is their right in a democracy, then why do they only present a single slate of candidates for their boards, pre-selected by who else but the current board?
If you haven't received a similar request through a mutual fund, you can send your own comment to chairmanoffice@sec.gov.