Dear Friend,
We just announced a second major victory in the fight against corporate spending in our elections. Following a series of negotiations with Public Advocate Bill de Blasio's office, financial giant JP Morgan Chase has agreed to refrain from the unrestricted political spending permitted under the Supreme Court's Citizens United ruling. JP Morgan joins Goldman Sachs, with whom we negotiated a similar pact last month.
The combined corporate treasuries of JP Morgan and Goldman Sachs total over $400 billion. Even a small sliver of those assets could have changed outcomes in the November election. We've updated our online Corporate Spending Tracker to reflect JP Morgan's reformed policy, and we congratulate the company for setting a higher bar for the financial industry.
Of course, it takes more than negotiations for companies like JP Morgan to do the right thing. It takes people like you making phone calls and sending emails directly to corporate headquarters to make it clear where voters, investors and consumers stand. Help us keep the momentum rolling. Contact another company on our Corporate Spending Tracker and urge them to follow JP Morgan's lead.
Thank you,
Matt Wing
Communications Director
Office of the Public Advocate