Fighting for people over profits
We’re marching right into the heart of Bank of America to stop the corporate takeover of our elections — and we need you with us.
In a few weeks, Bank of America’s CEO and board will gather in Charlotte, NC, for the company’s annual shareholder meeting. With a major protest expected outside, a few fed-up shareholders will be pushing a groundbreaking resolution that would prohibit Bank of America from giving any corporate cash to candidates, campaigns or super PACs.
These bold shareholders need petition signatures from consumers like us to help make their case that the public is fed up. Will you be there with us?
Over the last decade a seismic shift has been taking place. Shareholders have begun to support proposals calling for restrictions on corporate political spending, and dozens of major corporations have acceded to shareholder demands.
Getting corporate money out of politics is going to take a while, and it won’t be easy. Corporations have fought tooth and nail against any attempt by shareholders — or the government — to rein in abuses of power. But this Bank of America resolution is groundbreaking — it’s the first time that shareholders have called on a company to stop all political spending.
A resolution like this can take several years to gather steam. This first attempt is a shot across the bow to Bank of America’s Board of Directors that the time to adopt such a policy has arrived. Bank of America is urging its shareholders to vote against this proposal, and this time around most of Wall Street will likely follow its advice. The resolution may only get a few percent of the vote this year — but your petition presented in front of all major shareholders can help create critical pressure for next year.
Together, we can work to reverse the damages caused by an out-of-touch Supreme Court and out-of-control corporations. Let’s make history.
“Prohibit Political Spending From Corporate Treasury Funds” – Bank of America shareholder resolution (2012)
“Proposals aim to curb political donations” – The Star Tribune, January 2012