When graying cohorts of nuns, priests, clergy and other religious proxy shareholders hitched their wagon to the Center for Political Accountability’s crusade against Citizens United and corporate political spending, it was reported by most news sources as cute and endearing. After all, it’s a bit of the David v. Goliath scenario playing out as the faith-based underdogs take on companies with sinister motives and deep pockets full of “dark money” which they spread around to the American Legislative Exchange Council, the U.S. Chamber of Commerce, Republican candidates and other bêtes noires of the left.
If one reads the media reports following the release this week of the 2013 “CPA-Zicklin Index of Corporate Policy Accountability and Disclosure” you’d think little David scored big-time with a single stone fired from CPA’s sling at the corporate American Goliath. Well . . . yes. And no. Yes, in that some companies capitulated to CPA and proxy shareholders for more transparency. No, in that many other companies held fast to privacies guaranteed by Citizens United despite the onslaught of proxy resolutions submitted by a matrix of leftist organizations, which includes the nominally religious-based investment groups As You Sow and the Interfaith Council on Corporate Responsibility. Little David is indeed far more of a Goliath than the general public has been led to believe.