The US Supreme Court today gave a green signal to big business and unions to spend as freely as they like to support or oppose Presidential and Congressional candidates. The verdict was sharply condemned by President Barack Obama and other lawmakers. <br/><br/>The nine justices of the apex court were divided 5-4 on the ruling that eased decade-old limit on business efforts to influence federal campaigns. President Obama termed the court decision liberalising campaign financing as a major victory for the large lobbying groups, Wall Street and the health insurance companies and vowed to work immediately with the Congress against it. <br/><br/>Lawmakers termed the court's verdict as shameful for US democracy. Obama said in a statement that with its ruling today, the Supreme Court has given a green light to a new stampede of special interest money in our politics. <br/><br/>He said, the court's decision is a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans. Several public activist group said by this judgment, the Supreme Court has put democracy for sale.
News On AIR | January 22, 2010 6:53 PM
US court OK’s corporate campaign spending