Corporate democracy and shareholder activism

Citizens United, Shareholder Protection, and “the Silence of the Funds”  - The Demos Blog - PolicyShop:

When the Supreme Court in Citizens United allowed corporations to spend money in elections they thought that shareholders would be able to monitor the use of corporate funds “through procedures of corporate democracy.” But John Bogle, the former CEO of Vanguard, reminds us in a recent Financial Times column that “US financial institutions – mutual funds, pension funds, endowment funds, and bank trustees – hold more than two-thirds of the shares of virtually every publicly held US corporation, giving them total voting control.” This is a far cry from the state of affairs envisioned by the Court.

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