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

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

    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.


    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.


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

    Quote Originally Posted by TheDemSocialist View Post
    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. [/FONT][/COLOR]
    It is a matter of national (job) security; huge political contribution, huge gov't contract, huge tax break or nifty PPACA waiver - can't have people picking stocks, making purchases or voting with that kind of information influencing their decisions.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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

    Quote Originally Posted by TheDemSocialist View Post
    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. [/FONT][/COLOR]
    Really, how about Big Union's money? Do they have to declare that?
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    Re: Corporate 'Dark Money' To Get Free Pass After SEC Drops Disclosure Proposal

    Quote Originally Posted by American View Post
    Really, how about Big Union's money? Do they have to declare that?
    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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    Re: Corporate 'Dark Money' To Get Free Pass After SEC Drops Disclosure Proposal

    Quote Originally Posted by TheDemSocialist View Post
    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. [/FONT][/COLOR]
    This works for both sides and all smart Corporations have paid both sides so they will be welcomed at the feast of government contracts. So, both R & D politicians are fine with this and we little people don't really matter anyway.

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

    Quote Originally Posted by TheDemSocialist View Post
    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...
    Providing it to the gov't is just a tad different than making it public - would you not agree?
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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

    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.

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

    Everyone always wants free speech except when those speaking want it a different way!

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

    Quote Originally Posted by ttwtt78640 View Post
    Providing it to the gov't is just a tad different than making it public - would you not agree?

    no because in this situation the government has to release the information to the public.


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