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View Diary: Elizabeth Warren wants to know what think tanks are owned by Wall Street (74 comments)

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  •  Em - there is nothing about supporting think tanks (0+ / 0-)

    that should set those expenses apart as a separate disclosure item. The SEC already requires the disclosure of any material expense. If the amount contributed to think tanks falls below the SEC's definition of materiality what makes it rise to the level where it should be treated differently than the thousands of other decisions made by the management and the board to spend the shareholders' money?

    Is there a single non-political reason these expenditures should be disclosed? I don't think the management of these banks will have any embarrassing moments declining to disclose their contributions to think tanks.

    "let's talk about that"

    by VClib on Wed Dec 04, 2013 at 06:32:20 PM PST

    [ Parent ]

    •  I am merely saying it is politically well-played (1+ / 0-)
      Recommended by:
      VClib

      and a substantively well-framed question -- not that there is now or should even be a legal SEC disclosure requirement along the lines of Sen. Warren's public letter.

      Whether non-disclosure is embarrassing or not to bank CEOs really depends on pressure from shareholders and the public -- and I believe Sen. Warren is effective in using her political, intellectual, and moral capital to catalyze application of that pressure.

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