Bad news today from the U.S. Supreme Court for those opposed to corporate contributions to political campaigns. By a 5 to 4 vote the Court ruled that the 20 year old rule that barred corporations from unfettered spending on candidates that they either support or oppose.
This is the most significant Supreme Court ruling on corporate finance in many years. Those on the right called the ruling a huge win for the Constitution's First Amendment. Those on the other side of the aisle claim that this ruling opens the floodgates for more control of elections in the hands of big business. Corporations can funnel money to candidates who will advocate their agendas, I.E., banks, insurance companies, oil companies, ad infinitum.
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