What is the policy for Latter-Day Saints' leaders (like bishops) being politically engaged? Recently a bishop in the the Church of Jesus Christ of Latter-Day Saints said a politically tinted or motivated remark publicly. I don't mind lay members being involved like Harry Reed or Mitt Romney, but when I heard someone in an actual leadership position say something it really bothered me. 

Isn't there something in their policy and from their leadership that says saying or doing anything that could be considered political is not permissible?

A friend told me that what he did was in very poor taste and should be reported to his stake president or a "general authority", but I just don't know what to do since I hate to stir pots.
Per the LDS website, “stake presidents and bishops are free to contribute, serve on campaign committees and otherwise support candidates of their choice”.
So, it seems that bishops are free to participate in politics. However, the church goes on to say that these officials should not imply or infer that their political stance is endorsed by the church, use church generated addresses, email systems, buildings etc for political promotions, or “engage in fundraising or other types of campaigning focused on fellow Church members under their ecclesiastical supervision."

From what I can gather, the only members for whom it is not permissible to participate in politics are full time General Authorities, general officers, General Auxiliary Presidencies, mission presidents, temple presidents, and their spouses. The hyperlinked article, which cites a presidency letter the church released that outlined their stance on political neutrality, states that these full time servants “should not personally participate in political campaigns, including promoting candidates, fundraising, speaking in behalf of or otherwise endorsing candidates, and making financial contributions.”