Thursday, October 28, 2010

Corporate America a New CEOcracy

We are all lamenting the actions of big shot corporate CEO's throwing secret money into right wing causes and candidates.  Thanks to the george bush supreme court and Chief Justice roberts they have more power than ever.  I do mean that.  The power of $100 bills by the car full.  The same goes for unions and left wing groups who have car loads of one dollar bills.  But, who should we really be angry with?

My friend Tim knows.  We should be mad at the stockholders and ourselves if we hold stock in any oil and gas company etc that is funding these efforts.  Did we stockholders give them permission to do this?  Did the stockholders ever think they might be destroying a democracy and turning it into a CEOcracy?

Well, Tim has a great idea in that legal mind of his.  He thinks large government investment and pension funds, such as the NM Investment Council, the Public Employees Retirement Association, the Educators Retirement Association, and other groups of stockholders should now start initiatives in all states requiring that corporations hold a ballot of all shareholders to allow or disallow contributions to candidates, PACS and special political committees.  I guarantee you that right now these corporate officers are doing whatever they damn well please. I will bet a lot of institutional stock holders will oppose most contributions.  Individual stockholders would too.  And this can't be done in one of those confusing and fine print ballots these CEOs send out.  It should be simple and concise.  I will even write the question.  Here it is, "Should this corporation allow any expenditures for supporting candidates, PACs, special committees or initiatives?   Yes_____    No_____

What courageous New Mexico legislator will write and sponsor such a bill?

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