Last week, a group of ten eminent academics filed this petition asking the Securities and Exchange Commission to develop rules requiring public companies to disclose to shareholders the use of corporate resources for political activities. I believe that this is the wrong time for the SEC to be wading into these waters. Briefly, my reasons are as follows:

•The burden on reporting companies is already significant and adoption of the proposal will add to those burdens. One day, the camel’s back will be broken by the weight of the incremental burdens placed upon it...