Moxy Vote Blog

John Bogle recently wrote an opinion letter, published in BusinessWeek, expressing concern over the recent Supreme Court ruling allowing corporations to spend freely on political donations.  Moxy Vote has commented on this ruling here, on our blog.

Bogle’s concerns are consistent with the worries President Obama expressed in his January 2010 State of the Union speech.  While President Obama encouraged Congress to reverse the Supreme Court decision, Bogle puts the onus on shareholders, for a very good reason:

We can justifiably suppose that the individuals holding shares in these giant corporations hold a broad spectrum of opinions, and corporate political contributors can hardly honor them all. Past experience also suggests that corporate managers are likely to try to shape government policy in a way that serves their own interests over that of their shareholders.

Last week, we invited Warren Buffett to become an advocate on our site.  And, while we may be showing hubris by inviting two icons to our party in such a short period of time, we can’t help ourselves. So, here we go again:

Hey Mr. Bogle!  You are cordially invited to become an advocate on Moxy Vote. Here, you can rally shareholders to file and pass resolutions requiring that corporations not make political contributions without the approval of 75% of shares outstanding. If you’re interested, have your people contact our people.