The SEC is considering a rule that would require public corporations to disclose their contributions to groups like the US Chamber Of Commerce that use the money in political campaigns. It is being resisted by corporations and by the Chamber of Commerce. They argue that is it would be a rule against the freedom of speech. Apparently, freedom of speech means that corporations should be able to speak in political campaigns without disclosing their speech to shareholders and to the public.
We will have to wait and see how the SEC will respond to an initiative that has wider public support. It will be a test for the new head of the SEC who recently selected its new head of prosecution from a law firm that has been a legal consul to the large corporations affected by the new rule. The revolving door between the SEC and the law firms that defend large corporations has been a problem in the past. Lawyers with SEC experience often take high paying jobs in the law firms that defend corporations after their tour of duty in the SEC.
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