Senator Warren Shows How One Responds to Very Serious Corporate ‘Democrats’

By doing the Washington equivalent of punching them in the nuts–that is, go after their bankrollers (and I do mean bankrollers; boldface mine; from here):

Dear Mr. Dimon, Mr. Moynihan, Mr. Corbat, Mr. Stumpf, Mr. Blankfein and Mr. Gorman:..

…As you know, private think tanks are extremely well-suited to provide this research and analysis, but for it to be valuable, such research and analysis must be truly independent. If the information provided by think tanks is little more than another form corporate lobbying, then policymakers and the public should be aware of the difference.

I am writing to encourage you to voluntarily disclose financial contributions your institutions make to think tanks. In my view, policies by your institutions to conceal those contributions from public view are wrong. Greater transparency will benefit your shareholders, policymakers, and ultimately, the public.

As the CEOs of public companies, you have an obligation to expend corporate resources only in ways that advance the interests of your shareholders. For that reason, I believe your shareholders have a right to know both which think tanks your companies are supporting and the extent of that support so that they can assess for themselves whether they benefit from these contributions.

When you use corporate resources to support think tanks there are only two possible outcomes from public disclosure – those contributions do not influence the work of the think tanks or those contributions do influence the think tanks’ research and conclusions. Either way, shareholders have a right to know how corporate resources are spent, and, even more importantly, policymakers and the public should be aware of your contributions and evaluate the work of the think tanks accordingly.

That wailing you hear is the piteous cries of staffers at corporate-funded think tanks. Guess they’ll just have to become proper lobbyists.

This is how you fight back: you hit them where it really hurts.

Well done so far, Senator.

This entry was posted in Bidness, Democrats, Propaganda. Bookmark the permalink.

1 Response to Senator Warren Shows How One Responds to Very Serious Corporate ‘Democrats’

  1. Pingback: Links 12/8/13 | Mike the Mad Biologist

Comments are closed.