Shareholders to SEC: Expose corporate "dark money" in politics

<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9oDPorGc8nJk_GlB7dZOsE6XLXnudoAdZd0AS3NwcSxvhiryvg0j0amMt-4ZuWG6jdsvAyD-6Mz5yQvaxGTLEnrNjSQNsnbXKwx-JYYsuB7GIGjyryBexVrk1sABmfKNqsnD-6VkjHGMT/s1600/expose-the-dark-money-final.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9oDPorGc8nJk_GlB7dZOsE6XLXnudoAdZd0AS3NwcSxvhiryvg0j0amMt-4ZuWG6jdsvAyD-6Mz5yQvaxGTLEnrNjSQNsnbXKwx-JYYsuB7GIGjyryBexVrk1sABmfKNqsnD-6VkjHGMT/s200/expose-the-dark-money-final.jpg" width="200" /></a></div>Wouldn't it be nice to know how much of your money is being spent to elect anti-worker politicians to office?<br /><br />If you have any retirement savings, you probably own stock in a public corporation. And the CEOs of those corporations can spend your money however they wish on politics -- without telling you.<br /><br />Since the Supreme Court's 2010 <a href="http://en.wikipedia.org/wiki/Citizens_United_v._Federal_Election_Commission">Citizens United decision</a>, corporations have been pouring millions of dollars into shadowy groups to influence elections. In the 2012 election, up to $400 million was funneled into these "<a href="http://en.wikipedia.org/wiki/Dark_money">dark money</a>" groups -- that's 500 percent more than in the previous presidential election before Citizens United.<br /><br />More often than not, that corporate money is being spent to elect anti-worker candidates to public office.<br /><br />A <a href="http://sunlightfoundation.com/blog/2013/06/17/the-sec-and-dark-political-money/" rel="nofollow">new SEC rule being considered</a> would require publicly traded companies to disclose to shareholders the corporate funds spent on political campaigns.<br /><br />Supporters of the new rule, led by <a href="http://www.citizen.org/Page.aspx?pid=183">Public Citizen</a>, held an event in Washington yesterday where Sen. <a href="http://en.wikipedia.org/wiki/Elizabeth_Warren" rel="nofollow">Elizabeth Warren</a> (D-Mass.) <a href="http://www.huffingtonpost.com/2013/10/30/elizabeth-warren-corporate-disclosure_n_4179098.html?utm_hp_ref=politics" rel="nofollow">urged the SEC to shine a light on the "dark money"</a> spent by corporations:<br /><blockquote class="tr_bq">We don't have to have legislation for the SEC to do the right thing. They have the power to do the right thing right now. There is no reason for saying a corporation wants to be able to spend shareholders' money and not tell shareholders how that money is being spent.</blockquote>Advocates for transparency in corporate political spending are also supporting the <a href="https://www.govtrack.us/congress/bills/113/s824">Shareholder Protection Act</a>, legislation introduced by Sen. <a href="http://en.wikipedia.org/wiki/Robert_Menendez" rel="nofollow">Robert Menendez</a> (D-N.J.) to force the SEC to enact a political disclosure rule. Menendez was also at yesterday's event and said the SEC does not need the legislation to write the new rule now.<br /><br /><div> Law professor Ciara Torres-Spelliscy wrote in the <em><a href="http://www.latimes.com/opinion/commentary/la-oe-torres-corporate-funding-politics-20131030,0,5258845.story#axzz2j8kHEJIQ" rel="nofollow">Los Angeles Times</a></em>:</div><blockquote class="tr_bq">There is no rule at the SEC that requires public companies to tell their shareholders what they are up to in partisan elections. </blockquote><blockquote class="tr_bq">If the law of the land allows corporations to spend unlimited money on politics, investors deserve to know when, why and how much.</blockquote><div></div><div>As the <a href="http://sunlightfoundation.com/blog/2013/10/29/sec-poised-to-improve-political-spending-transparency/" rel="nofollow">Sunlight Foundation observes</a>, the recent government shutdown was just one symptom of the dysfunction sewn by the dark money infecting DC -- all in the interests of right-wing fanatics and their corporate sponsors: </div><blockquote class="tr_bq">Not all that ails our democracy can be blamed on the Supreme Court decision in the Citizens United case, but $1.2 billion in spending by outside groups—at least $300 million of that from undisclosed donors—doesn’t help create a working democracy.</blockquote><blockquote class="tr_bq">Legislation such as the <a href="http://sunlightfoundation.com/blog/2012/02/09/house-democrats-introduce-disclose-2012/">DISCLOSE</a> Act is still the best chance at comprehensive disclosure of all dark money. But an SEC rule will result in greater accountability by companies that decide to spend money on politics, it will inform investors about how a company spends its profits, and it will help the public identify the messenger behind many of the political ads they see.</blockquote><div>A new SEC rule wouldn't solve all of our problems. It probably won't even reduce corporate political spending all that much. But it would be a nice change from the secrecy that shrouds political spending. </div><div></div><div>And it will give us a chance to hold CEOs accountable when they spend money on politicians who attack working people.</div>

Citizens United dark money SEC Sen. Elizabeth Warren Shareholders to SEC: Expose corporate "dark money" in politics

Wouldn't it be nice to know how much of your money is being spent to elect anti-worker politicians to office?If you have any retirement savings, you probably own stock in a public corporation. And the CEOs of those corporations can spend your money h…

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Kochs’ vast dark money network exposed

<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgI3OPJCPhfJhuq8sLoGzOIOFOGAtvnm_NH_ZcEnMbsy3l2Fi93oa9CXdB25rKILltx7P6cUwLXGlqJ0YWoLcctA-gxFU6B4bTtey5D7UDw49p2kkxtXAg9vG896QMiFGT1XrnsDsd8bD8t/s1600/Koch-Brothers-Exposed.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="190" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgI3OPJCPhfJhuq8sLoGzOIOFOGAtvnm_NH_ZcEnMbsy3l2Fi93oa9CXdB25rKILltx7P6cUwLXGlqJ0YWoLcctA-gxFU6B4bTtey5D7UDw49p2kkxtXAg9vG896QMiFGT1XrnsDsd8bD8t/s200/Koch-Brothers-Exposed.png" width="200" /></a></div>New tax filings by a Koch-funded front group reveal the staggering scope of the political machine that wants to destroy workers' rights and turn us into feudal serfs. Exposed secret political spending by “<a href="http://www.politico.com/story/2013/09/behind-the-curtain-exclusive-the-koch-brothers-secret-bank-96669.html" rel="nofollow">Freedom Partners Chamber of Commerce,” which included $250 million during the 2012 election cycle</a>, shines a light on the vast shadowy network of organizations, LLCs and business groups promoting anti-worker causes.<br /><br /><div>Our friends at the <a href="http://www.prwatch.org/cmd" rel="nofollow">Center for Media and Democracy</a> have <a href="http://prwatch.org/news/2013/09/12247/breaking-new-list-dark-money-shell-game-groups-connected-kochs" rel="nofollow">the story</a>:</div><blockquote class="tr_bq">The Freedom Partners Chamber of Commerce's tax filing also lists the names and amounts of all of the entities it funded between late 2011 and the eve of the 2012 elections. Here is the list of the top five groups to which the Kochs' Freedom Partners Chamber of Commerce funneled millions:</blockquote><blockquote class="tr_bq"><ul><li>"Corner Table LLC," known as the "<strong><a href="http://www.sourcewatch.org/index.php/Center_to_Protect_Patient_Rights" rel="nofollow">Center to Protect Patient Rights</a></strong>" (CPPR): three infusions of cash totaling $114,678,000. CPPR is at the center of a probe by the California Elections Board on "dark money" spent through shell groups to influence two ballot initiatives, among other concerns that have been raised about it.    </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"PR Dist LLC," described as "<strong><a href="http://www.sourcewatch.org/index.php/Americans_for_Prosperity" rel="nofollow">Americans for Prosperity</a></strong>," which is directed by David Koch: two infusions totaling $31,600,000.  </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>The 60 Plus Association Inc.</strong>," $15,660,000  </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong><a href="http://www.sourcewatch.org/index.php/American_Future_Fund" rel="nofollow">American Future Fund</a></strong>," $13,600,000 </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>Concerned Women for American</strong> Legislative Action Committee," $8,150,000 </li></ul></blockquote><div>Freedom Partners’ tax report also shows it owns five other shell game groups that all share the same Washington DC street address: “American Entrepreneur Fund LLC,” “American Enterprise Group LLC,” “American Strategies Group LLC,” “MIC LLC,” and “American Strategic Innovations LLC."<br /><br />Creepy!<br /><br />CMD reports that the “<a href="http://sourcewatch.org/index.php?title=National_Federation_of_Independent_Business" rel="nofollow">National Federation of Independent Business</a>” received $2.5 from the Koch-funded “Freedom Partners” group. The NFIB claims to represent the interests of small business owners, yet it’s getting millions from the Kochs’ big corporation ... which would just as soon crush the small businesses that try to compete with it.<br /></div><div>And in case you needed a reminder of how intricate and well-funded the right-wing anti-worker arsenal is, there’s more:</div><blockquote class="tr_bq">Freedom Partners Chamber of Commerce spent another $50 million on other groups, cumulatively, some of which are well known and some of which have flown below the public's radar:</blockquote><blockquote class="tr_bq"><ul><li>"<strong><a href="http://www.sourcewatch.org/index.php/American_Commitment" rel="nofollow">American Commitment</a></strong>," $6,260,000 </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>Partnership for Ohio's Future</strong>," $500,000  </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>West Michigan Policy Forum</strong>," $1,000,000  </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong><a href="http://www.sourcewatch.org/index.php/American_Energy_Alliance" rel="nofollow">American Energy Alliance</a></strong>," $1,460,000 (has previously been connected to the Kochs) </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>American Values Action</strong>," $230,000 (spent $14 million on "independent expenditures" including phone calls against Obama during the 2012 election; donors unknown/not registered as a PAC)  </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>Common Sense Issues, Inc.</strong>," $50,000 </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>Heritage Action for America, Inc.</strong>," $500,000 (connected to the Heritage Foundation, which has deep Koch connections)  </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"ORRA LLC (<strong>EVANGCH4 Trust</strong>)," $5,055,000 </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"POFN LLC (<strong><a href="http://www.sourcewatch.org/index.php/Public_Notice" rel="nofollow">Public Notice</a></strong>)," $5,466,250  </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong><a href="http://www.sourcewatch.org/index.php/Republican_Jewish_Coalition" rel="nofollow">Republican Jewish Coalition</a></strong>," $700,000 </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"RION LLC (<strong>Center for Shared Service Trust</strong>), $2,738,000 (closely connected to the Charles Koch Foundation) </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"SLAH LLC (<strong>Public Engagement Trust</strong>)," $1,500,000 (Arlington)</li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong>State Tea Party Express</strong>," $600,000 (operates out of Willows, California) </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"STN LLC (<strong>Themis Trust</strong>)," $5,781,000 </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"TONA LLC (<strong>Libre Initiative Trust</strong>)," $3,112,000 </li></ul></blockquote><blockquote class="tr_bq"><ul><li>"<strong><a href="http://www.sourcewatch.org/index.php/Tea_Party_Patriots" rel="nofollow">Tea Party Patriots</a></strong>," $200,000 (operating out of Woodstock, Georgia)</li></ul></blockquote><blockquote class="tr_bq"><ul><li>"TRGN LLC (<strong><a href="http://www.sourcewatch.org/index.php/Generation_Opportunity" rel="nofollow">Generation Opportunity</a></strong>), $5,040,000 (a group aimed at Gen X that tries to pin the economic crash that began under President George W. Bush on Democrats) </li></ul></blockquote><blockquote class="tr_bq"><ul><li><strong>"The </strong><a href="http://www.sourcewatch.org/index.php?title=National_Right_to_Work_Committee" rel="nofollow"><strong>National Right to Work Committee</strong></a><strong>," $1,000,000 (which pushes anti-worker, union-busting measures)</strong></li></ul></blockquote><div>The next time you hear about a “grassroots” organization of concerned citizens whining about “big government” and “big labor” while calling for things like “right to work” for less laws and financial deregulation, odds are that those ordinary folks are in fact right-wing billionaire goons – or at least they’re getting paid by right-wing billionaire goons.   </div>

dark money Koch brothers right to work (for LESS) vast right-wing conspiracy Kochs’ vast dark money network exposed

New tax filings by a Koch-funded front group reveal the staggering scope of the political machine that wants to destroy workers' rights and turn us into feudal serfs. Exposed secret political spending by “Freedom Partners Chamber of Commerce,” which …

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