Why Would an Advertiser Reject Advertising?

I use Commission Junction for some of the ads on my web sites. I apply to many different advertisers. I’d say about 50% of them reject my application. Why!?! Even if the web sites were sexual in nature or contains questionable content, why would an advertiser turn down ANY opportunity for business? Nobody gets paid unless a sale or lead is made anyway.

Obviously these companies that are declining the applications have some moron that has somehow been assigned the duty of checking the various web sites to see if they are worthy. They probably check for how well a site is designed and base their decision solely on that. Even if the site was 100% plain text, why would it matter?

If I was to advertise any of my products via the Internet, I’d automatically approve everybody. Anybody willing to produce leads or sales for me would get approved. Why would I censor anybody willing to help me sell my product? I just don’t get it.