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Corporate 'Dark Money' To Get Free Pass After SEC Drops Disclosure Proposal

T

TheDemSocialist

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WASHINGTON -- The Securities and Exchange Commission unceremoniously dropped a proposal to require corporations to disclose contributions to political and nonprofit groups to their shareholders from its list of regulatory priorities for 2014.The change comes nearly one year after outgoing SEC chair Mary Schapiro placed the proposal, submitted to the commission by consumer advocates and campaign finance reform proponents, on its priority list for 2013.
The commission had largely ignored the proposal since Mary Jo White became chairman in April, despite its having garnered a record 600,000-plus public comments. In May, White told the House Financial Services Committee, "No one is working on a proposed rule."
The removal of the proposal from the commission's priority list is a major setback to the measure's proponents. Groups led by the liberal consumer watchdog Public Citizen had pushed for the rule in response to the rise of undisclosed campaign spending by nonprofit groups, sometimes known as "dark money," since the Supreme Court's 2010 Citizens United decision.
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Read more @: Corporate 'Dark Money' To Get Free Pass After SEC Drops Disclosure Proposal

Let the money flow! Welcome to our democracy literally being bought. Welcome to the oligarchy.
 
American said:
Really, how about Big Union's money? Do they have to declare that?
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As the article states "Requiring corporations to disclose their political and nonprofit giving to the SEC would simply bring public corporations in line with similar requirements imposed on labor unions. Unions are currently required to provide the Department of Labor with annual financial reports, which detail contributions to political candidates, parties, political action committees and nonprofit groups."

Corporations however are not...
 
TheDemSocialist said:
As the article states "Requiring corporations to disclose their political and nonprofit giving to the SEC would simply bring public corporations in line with similar requirements imposed on labor unions. Unions are currently required to provide the Department of Labor with annual financial reports, which detail contributions to political candidates, parties, political action committees and nonprofit groups."

Corporations however are not...
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Providing it to the gov't is just a tad different than making it public - would you not agree?
 
I am for equality under the law. If some groups do not have to disclose, then no groups should have to disclose. Likewise if any group should have to disclose, then all groups should have to disclose. Personally, i think ALL non-profits should have to disclose their donors and sources of income, including PAC's, churches, politicians, advocacy groups, charities, and anybody else that gets money for free.
 
Everyone always wants free speech except when those speaking want it a different way!
 
ttwtt78640 said:
Providing it to the gov't is just a tad different than making it public - would you not agree?
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no because in this situation the government has to release the information to the public.
 
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