B.O. calls for limits on corporate campaign money

Discussion in 'Wall St. News' started by muller, May 1, 2010.

  1. muller



    B.O.'s remarks, made in his weekly radio and Internet address, came after Democratic lawmakers introduced legislation on Thursday to blunt the impact of a January U.S. Supreme Court ruling that allows corporations, unions and other groups to spend unlimited funds on political campaigns.

    B.O., who vehemently opposed the Supreme Court ruling and drew criticism for lambasting it in the presence of the court justices at his State of the Union address earlier this year, endorsed the new Democratic legislation and used strong language to encourage lawmakers to turn it into law.

    The court ruling is expected to unleash a flood of money from the traditionally pro-Republican business community to campaigns designed to favor or oppose candidates in this year's congressional elections and the 2012 presidential contest.

    "This decision gives corporations and other special interests the power to spend unlimited amounts of money -- literally millions of dollars -- to affect elections throughout our country," B.O. said of the ruling.

    So... as long as unions are funding campaigns I guess that's okay for B.O.
  2. Lethn


    Learn to read, I doubt unions are going to be as much of a thread as Corporations if everyone can see what they're doing. I for one highly support a measure like this, corporations have retarded amounts of power but I guess Obama's only putting this in after his stupid healthcare bill gets properly passed which ironically was largely lobbied by Swiss Pharmaceutical companies.