For insight into why the SEC appears to be a "captured" agency, working in the interests of the big corporations they are supposed to be regulating, see the Project On Government Oversight's report, "The SEC's Revolving Door." From the overview:
"Former employees of the Securities and Exchange Commission (SEC) routinely help corporations try to influence SEC rulemaking, counter the agency's investigations of suspected wrongdoing, soften the blow of SEC enforcement actions, block shareholder proposals, and win exemptions from federal law."
The Appearance of Corruption -- If Not Flat-Out Bribery
Corporations putting money into the political system has every appearance of corruption. The SEC's refusal to require disclosure also has every appearance of corruption. For all we know there is flat-out bribery going on. It sure looks like it.
The president should at least require federal contractors to disclose how much money they are putting into politics.
So far the SEC and the president are not listening to the public. The dark money continues to flow in from corporations and there are not any rules to let the public know where it is coming from and who is receiving it. This is a disgrace.
Several organizations have put together yet another petition to try to get the president moving on this: "Urge President Obama sign an executive order this year requiring federal contractors to disclose their political spending."
"Currently, corporations that receive government contracts can secretly funnel untold sums into elections to help elect (and re-elect) the very same lawmakers responsible for awarding those contracts. It's outrageous.
"Companies like Lockheed Martin, Verizon, and even subsidiaries of Koch Industries are awash in taxpayer money they receive from federal contracts. And you can bet that the amount of money they plan to spend to influence the upcoming elections is staggering.
"...The president can and should sign an executive order, immediately, requiring federal contractors to disclose their political spending."
Please sign this petition.