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.