Despite all of the backstabbing, petty, mean-spirited national ads I see, it's a quiet, local ad that annoys and saddens me the most. But as tired as we all are of the negativity, let us not lose sight of the importance of the opportunity that lies ahead.
There are moral hazards and agency costs in the allocation of corporate funds. Experience has shown that executives will support policies that diminish shareholder returns. The term "capitalism" refers, after all, to the providers of capital.
Secret spending in elections is toxic. The Obama administration's draft executive order to increase transparency in political spending is a big step in the right direction. It is time for the president to sign it.
What's even clearer in the wake of Citizens United and Target's experience is that any corporation engaging in political activity without disclosure and a rigorous governance oversight process heightens its exposure to risk.