Matthew Petersen’s Resignation As FEC Vice Chair: What It Means For You

Statement from John Pudner, Executive Director of TakeBack.org, on the resignation of FEC Vice Chair Matthew Petersen:

Matthew Petersen

Myriams-Fotos / Pixabay

“Petersen’s departure, following the end of Goodman’s term, means the group charged with ruling on campaign abuses like this no longer has a quorum to rule on any matter. With the incentive of so many foreign countries to influence the 2020 elections in order to put their interest above those of Americans, I encourage President Trump to fill both the empty Democratic and Republican open seats to put a traffic cop back in place prior to the upcoming elections.”

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Background:

The resignation of Federal Election Commission Vice Chairman Matthew Petersen Monday, makes Take Back Action Fund’s (TBAF) FEC victory against Facebook one of the last FEC decisions for the foreseeable future. Even the rare break in the FEC’s partisan divide to side with TBAF and rule that Facebook must reveal who is paying for political ads will no longer be possible since any enforcement requires four votes, and Petersen’s departure leaves three vacancies on the six-member board. TBAF’s sister organization TakeBack.org spent months educating the public on the problems with allow anonymous political ads on Facebook, though Facebook continued to argue they should be exempt from the requirements for “Paid for by…” requirement on TV, radio, direct mail, and sign companies. See “FEC to effectively shut down” story here.

Months after losing their attempt to keep political ads anonymous, Mark Zuckerberg took credit during his Congressional testimony for the new transparency.



About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver