(单词翻译:单击)
But what about employees too?
但是，员工也是如此吗？
Right. Well, I agree with… that's a whole other stakeholder issue.
是的，我认为这完全是另一个利益相关者的问题。
By the way, unions have not been able to give through the political process except through voluntary contributions forever.
顺便说一句，工会无法一直通过政治进程做出贡献，除非永远通过自愿捐款。
It goes back to the 1970s and that's because the Supreme Court said that unions couldn't use treasury funds.
这要追溯到20世纪70年代，因为最高法院表示工会不能使用国库资金。
The people who represent employees in society actually have to play by a different set of rules than the people who represent the monied interest.
社会上代表雇员的人必须要遵循一套不同的规则，而不是只代表金钱利益。
And so, when Mr Bogle, he was being very conservative.
因此，博格尔先生，他是非常保守的。
"Okay. Let's say, it's about stockholders. At least get their approval."
“比方说，关于股东的，至少要得到他们的认可。”
I think what Dorothy and I are saying is the institutional investors ought to be stepping up and insisting on that kind of approval, at the very least disclosure.
“我认为多萝西和我想说的是，机构投资者应该站出来，坚持要求这种批准，至少应该披露。
And Dorothy, I think one of the things I found most dismaying is some of them said, "Well, we'll step up and vote as an institution if we think there's a problem."
多萝西，我认为我发现最令人沮丧的事情之一是他们中的一些人说，“好吧，如果我们认为有问题，我们将站出来，作为一个机构进行投票。”
But the tip of the iceberg you can see ought to mean you move your Titanic away from it.
但是你能看到的冰山一角应该意味着你把泰坦尼克号从冰山上移开了。
The bigger part is under the water.
更大的部分在水下。
And how can they abstain on the grounds that we will abstain unless we know there's a problem when they're not even demanding the disclosure to let you know whether there's a problem?
他们怎么能因我们弃权而弃权呢，他们甚至都没披露信息让我们知道是否有问题，除非我们自己知道确实有问题。
One of the things that is I would say funny, but I don't know if it's quite funny about the Citizens United decision and the Supreme Court and the majority who said, "Well, shareholder democracy should be sufficient to reign in bad behavior," which just shows that they had no clue about how any of this works.
有一件事很有趣，但我不知道对于公民联合案的裁决结果和最高法院以及大多数人来说，这是否很好笑，他们认为“股东民主应该足以控制不良行为”，这只是表明他们对这一切是如何运作的一无所知。
I mean, none of this stuff is disclosed or is required to be disclosed.
我的意思是，这些东西都没有被披露，也没有被要求披露。
So you're expecting shareholders to somehow figure out what this spending is and then,
所以你希望股东能弄清楚这些支出是多少，说
"Oh, okay. Well, we'll band together and vote out the board of directors and get a new CEO based on this spending."
“好的。我们可以联合起来，投票罢免董事会然后根据这笔支出选出新的首席执行官。”
That's just not how the world works.
这不是世界的运转方式。
So, it sounds like our best hope is to persuade companies in your thesis.
所以，听起来我们最大的希望是你在论文中说服公司。
This in the long term is really bad for business, even if it can seem beneficial in the short term because it buys you a little bit of influence that-
从长远来看，这对企业真的很不利，即使它在短期内看起来是有益的，因为它为你买到了一点影响力。
We think continuing the pressure for Congress to require an investor mandate, this investor angle, having the institution step up.
我们认为继续施压，要求投资者授权，从投资者的角度，让这个机构站出来。
But also in our paper that Dorothy's talking about is businesses themselves thinking more about the poor benefit to cost ratio of continuing to be involved in this.
但在我们的论文中，多萝西谈到的是，企业本身更多地考虑到继续参与这一活动的低效益成本比。
And if you're going to be continuing to be involved in it, doing it much more carefully and much more thoughtfully, we think that would be much better for businesses.
如果你打算继续参与其中，做得更仔细、更周到，我们认为这对企业来说会更好。
And we think many of them may conclude, Allison, that if you're going to do it right, it's too costly in all kinds of ways than simply reverting to the pre Citizens United approach and reducing your involvement in the political process and saying that,
我们认为他们中的许多人可能会得出结论，艾利森，如果你要做好这件事，那么在所有方面都会付出太大的代价，而不是简单地恢复到公民联盟之前的方式，减少你对政治进程的参与，并说，
"As a company, we live up to our stated values in how we act as a business and we certainly will lobby on behalf of things that we care about.
“作为一家公司，我们恪守我们作为一家企业的既定价值观，我们当然会为我们关心的事情进行游说。
But we think really our stockholders' money ought not be used on political donations because they don't agree on all these issues.
但我们认为，我们股东的钱真的不应该用于政治捐款，因为他们在所有这些问题上都没有达成一致。
We respect the diversity of their views and if they want to use the dividends we give them to donate to candidates, they're free to do so."
我们尊重他们观点的多样性，如果他们想利用我们给予他们的红利向候选人捐款，他们有这样做的自由。
