Obama Calls Campaign Finance Ruling 'Devastating'

[FUZO]

TweetPoor fuking baby blojama






President Barack Obama says he can't imagine "anything more devastating to the public interest" than the Supreme Court's decision to ease limits on campaign spending by corporations and labor unions.

He also suggested in his radio and Internet address Saturday that the ruling could jeopardize his domestic agenda.

In the 5-4 decision Thursday, the high court threw out parts of a 63-year-old law that said companies and unions can be prohibited from using their own money to produce and run campaign ads that urge the election or defeat of particular candidates by name.

"This ruling opens the floodgates for an unlimited amount of special interest money into our democracy," the president said. "It gives the special interest lobbyists new leverage to spend millions on advertising to persuade elected officials to vote their way — or to punish those who don't."

Obama said that means lawmakers who stand up to Wall Street banks, oil companies, health insurers and other powerful interests could find themselves under attack at election time.

"I can't think of anything more devastating to the public interest," he said. "The last thing we need to do is hand more influence to the lobbyists in Washington or more power to the special interests to tip the outcome of elections."

The ruling came out as lawmakers make re-election plans and as Obama's Democratic Party feels the pressure from losses in New Jersey, Virginia and in Massachusetts, where Republican Scott Brown came from behind to win a Senate seat on Tuesday that Democrats had held for decades.

Obama said the decision will make it harder to enact financial, tax, healthcare and energy changes.

[trip]

TweetI don't know about this one. I'm kind of contrarian on it.

We all know politics and religion get folks blood boiling. You gotta realize most companies have no political affiliation.

Folks act like companies will buy elections, like the people who buy there products won't know this...............they could lose a whole lot of buyers, which imho is there main concern...........the split and emotions of folks makes no real sense for companies to go whole hog with this.

Heck, they'd piss off 1/2 to 1/3 of there own employees.

IMHO, this is one of those things, that seem big, that will eventually most likely be small.

jmho

[Dzone]

Tweetpoliticians are prostitutes.

[JsJs24]

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I don't know about this one. I'm kind of contrarian on it.

We all know politics and religion get folks blood boiling. You gotta realize most companies have no political affiliation.

Folks act like companies will buy elections, like the people who buy there products won't know this...............they could lose a whole lot of buyers, which imho is there main concern...........the split and emotions of folks makes no real sense for companies to go whole hog with this.

Heck, they'd piss off 1/2 to 1/3 of there own employees.

IMHO, this is one of those things, that seem big, that will eventually most likely be small.

jmho

You have a good point here Trip. I know that I won't buy a product from a company that supports a candidate I vehemently oppose. For instance, I will not buy a GM or Chrysler product because I didn't agree with their asking for a bailout. In addition, I will not use a bank that is supported by the government. The same would hold true for presidential candidate support. If company X supports candidate Y who I oppose then I will take my business elsewhere.

Very good point Trip, thanks.

[3sweeties]

TweetNon profit organization will benefit from this as well. Obama wants to silence opposition. Think of the non profit organizations as a collective group of people pooling their resources.

[JsJs24]

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Non profit organization will benefit from this as well. Obama wants to silence opposition. Think of the non profit organizations as a collective group of people pooling their resources.

This is true in my opinion too. I think Obama is acting like he is against it but realizes he will benefit tremendously. The companies that will support him do not care about their customers because most of them either have no public customers or are unions. Non-profits are intereting in that people believe they are not into seeking profits which is entirely incorrect. Instead, their profits go directly into their paychecks to prevent them from being "for profit" companies. I suspect it would be possible to take some of those profits and use them as campaign contributions.

My brother and I had a small business which we considered creating as a non-profit for a government incentive program that was available in the industry. We then leaned that a large competitior in the industry was a non-profit and decided to look into their company's eanings through a friend with an inside source. It turned out that the revenues and profits were substancial, and it was obvious that the President and other executives had to be making an extremely high salary. I have no problem with this but wanted to mention it since it is likely that many of the non-profits would indeed be able to contribute significantly.