NBC News and news services
updated 1:43 p.m. ET, Thurs., Jan. 21, 2010
WASHINGTON - In a landmark ruling, the U.S. Supreme Court on Thursday struck down laws that banned corporations from using their own money to support or oppose candidates for public office.
By 5-4 vote, the court overturned federal laws, in effect for decades, that prevented corporations from using their profits to buy political campaign ads. The decision, which almost certainly will also allow labor unions to participate more freely in campaigns, threatens similar limits imposed by 24 states.
Actually, I think the ruling makes sense, looking at the constitution, but it sure seems like stupid policy. Pity our system's so broke we can't amend the document. I should read more about corporate personhood.
One other interesting comment: it used to be that large corporations could easily fund such stuff through 527's, which were legally complex but possible. Now, large AND SMALL corporations can intervene without having to jump through the legal hoops. Unless I'm missing something.
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