With the "Citizen United" ruling allowing unlimited funds to be secretly funneled to political campaigns, Public Advocate Bill de Blasio is fighting for transparency lost, by petitioning the SEC to force corporate political contributions by publicly traded corporations to be disclosed in SEC filings. It is a travesty that corporations were given "corporate personhood". Please do review the e-mail sent, and the links to both the petition and an article providing additional background. Major Kudos to de Blasio. It is up to us to sign the petition and show that we are aware of this injustice against democracy.
Last month, we called on the U.S. Securities and Exchange Commission (SEC) to require all publicly-traded companies to disclose their election spending. We delivered more than 3,000 signatures to the SEC and marshaled support from pension trustees across the country.
And on Friday, we gained new momentum in this fight as SEC Commissioner Luis Aguilar announced his support for these reforms, urging the SEC to act swiftly to end secret corporate spending in elections. That’s one down, two more Commissioners to go to secure a majority vote for passage.
Commissioner Aguilar’s announcement represents a milestone on the path to protect our democratic process against limitless and undisclosed political donations from corporate treasuries. In his remarks, Commissioner Aguilar cited our letters as proof of the need to shed sunlight on runaway political spending. His speech makes clear that the SEC can heed the voices of shareholders and citizens.
We must not stop now. Join me in calling on the remaining SEC Commissioners to take a stand against secret spending in elections and implement these reforms immediately.
Bill de Blasio
NYC Public Advocate
More on the "Citizens United" ruling and "Corporate Personhood"