Reuters journalist Rob Cox: Shareholders could help reverse Citizens United

By Eric W. Dolan
Monday, May 7, 2012 21:01 EDT
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Rob Cox via screenshot
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Reuters’ Rob Cox explained Monday on MSNBC how two major U.S. companies could help offset the Supreme Court’s 2010 Citizens United decision.

Bank of America and 3M will be giving their shareholder the chance to vote on a referendum on Tuesday and Wednesday that would prohibit the use of corporate funds for any political election or campaign.

“I think it’s ironic that it’s actually going to be up to corporate democracy to save democracy,” Cox said. “That’s sort of the point here and I’m not sure that shareholders will think the same way citizens do. They’re going to go out there and vote on their own self-interest, which is ‘what will this do for my company?’”

However, he noted that the proposed policy could actually be good for business.

“I’ll give you an example. Target two years ago put $150,000 into a sort of PAC-like organization just after the Citizens United deal and that organization basically supported a pretty far right Republican candidate who was very anti-gay. It created a big problem. In fact, there was a huge boycott online.”

Watch video, courtesy of MSNBC, below:

Visit msnbc.com for breaking news, world news, and news about the economy

Eric W. Dolan
Eric W. Dolan
Eric W. Dolan has served as an editor for Raw Story since August 2010, and is based out of Sacramento, California. He grew up in the suburbs of Chicago and received a Bachelor of Science from Bradley University. Eric is also the publisher and editor of PsyPost. You can follow him on Twitter @ewdolan.
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