As a child of the 1970s, your writer was witness to an amazing transformation in a large swath of the religious community. In what seemed like a wink of an eye, clergy, religious and nuns grouped together with yippies, hippies, and other left-of-center tribes to advance progressive causes. Never you mind that much of these initiatives have little overlap with Judeo-Christian principles, just believe in your heart that Jesus would oppose genetically modified organisms and the U.S. Supreme Court’s Citizens United ruling, while championing diversity and staunchly advocating the curtailment of greenhouse gases.
Of the above bugbears embraced as major issues by progressives, perhaps none resonates more than overturning Citizens United. Why, you ask? Because a reversal of the SCOTUS decision would tilt political discourse decidedly to the left, making all other issues fall like so many dominoes toward larger government, higher taxes and exponentially more regulations. Take away businesses’ political voice and you’re left with nothing but one side of the debate.
This was the topic I watched debated on July 12 in Seattle at the Society of Corporate Secretaries & Governance Professionals’ Governance/Wired Conference. I attended the conference to help clarify the political spending and disclosure policies that seem to be front-of-mind for the shareholder-activist members of the Interfaith Center on Corporate Responsibility and As You Sow I’ve written so much about for Acton these past few months.
The debate featured Brian G. Cartwright, senior adviser, Patomak Global Partners, as advocate for Citizens United, and Bruce F. Freed, president and founder, Center for Political Accountability, arguing that the ruling posed grave threats to current political speech. Freed’s CPA nonprofit, incidentally, authored many of the campaign-finance proxy resolutions issued by shareholders.
Freed rhetorically asked: “Why is disclosure important?” and answered: “To reduce shareholders’ risk” by preserving the reputation of the business in which they hold stock. Among the threats listed were potential legal issues and risks of extortion. (more…)