If you owned a TV in 2014 or 2012, you already know how bad the dark money problem is in America.
Corporate executives can take millions straight from the company’s treasury and spend it on dark money ads trashing candidates who don’t support shoveling them more tax breaks and tearing apart government regulations.
Voters never find out who is funding the nasty ads, and shareholders – like you if you have a 401(k) – never find out if their companies are spending money on running attack ads rather than running a good business.
The New York Times declared that “dark money helped win the Senate” last November, and 2016 is shaping up to be way, way worse.
That is, unless SEC Chair Mary Jo White does her job.
As the chair of the SEC, Mary Jo White’s duty is to protect investors and enforce the rules on Wall Street. When he nominated her, President Obama promised she would do just that – that she would be a tough “cop on the beat.”
Instead, she’s let big banks off the hook time and time again, like each time she gives special “waivers” to mega-banks that break the law, because they are “too big to bar.”
Mary Jo White has dragged her feet on the dark money rule for more than 2 years, actually taking a proposed fix OFF the rule-making agenda, even as it gathered a record-breaking 1.2 million public comments.
Corporate executives and billionaires have sent a clear message to the SEC: We want to flood hundreds of millions of dollars into elections, in secret. The response from the SEC to date? “I’m Mary Jo White, and I approve that message.”
Enough is enough. It’s past time for Mary Jo White to do the right thing and protect investors and voters.
The SEC is expected to put out its rulemaking agenda for the coming year by the end of this month. Our democracy needs that agenda to include a rule fighting dark money.
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