Obama condemns court ruling on corporate donations

By IBTimes Staff Reporter | January 21 2010 1:53 PM

WASHINGTON - U.S. President Barack Obama on Thursday strongly criticized a Supreme Court ruling removing limits on corporate donations for political campaigns, saying it was a major victory for banks and oil and health insurance companies.

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With its ruling today, the Supreme Court has given a green light to a new stampede of special interest money in our politics, Obama said in a statement.

We are going to talk with bipartisan Congressional leaders to develop a forceful response to this decision. The public interest requires nothing less.

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