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Adam Lioz

Adam Lioz

Posted: January 21, 2010 04:39 PM

Bank of America or America of the Banks?

What's Your Reaction:

Today, with its decision in Citizens United v. FEC, the Supreme Court rejected decades of precedent in declaring that corporations enjoy the same free speech rights as live citizens.

Thanks to the Roberts Court, mega-banks that are using billions of our bailout dollars for obscene bonuses can now use our money to help place their hand-picked candidates into the halls of power.

We've seen what happens when Wall Street is accountable to no one. Now we'll see what happens when our elected representatives are directly accountable to Wall Street.

Bank of America should serve its customers and stay out of politics. But, today's decision could turn us into an America of the Banks, where our elected officials serve huge corporations instead of ordinary citizens.

The corporation that sells the most widgets shouldn't get to pick the next president. But today the Roberts Court paved the way for huge conglomerates to use their vast wealth to drown out the voices of ordinary citizens.

Through lobbying, corporate PACs, and massive advertising budgets, corporations already exert too much influence on American politics. Today's ruling guts one of the last remaining bulwarks of citizen power.

Can Goldman Sachs walk into a polling place and vote for a U.S. senator? Of course not, so why should we let big banks, or other corporations, have even more influence over who represents us, by spending unlimited money to put company-owned candidates into elected office?

Health insurance companies spent $641,000 every day lobbying against reform in Congress. Now, for a few days' expense, they can fund high-dollar campaigns to put their executives and advocates directly into Congress. Who needs lobbying when your cronies control the levers of power?

This decision is a slap in the face to ordinary citizens, and a victory for the Chamber of Commerce and Republican Leader Mitch McConnell (R-Kentucky), who filed briefs calling for today's result.

WellPoint Insurance and other corporations don't have the same rights as citizens. The vast majority of Americans agree. Unfortunately five members of the Supreme Court take another view.

Justice Kennedy, writing for the Court, rejects the contention that Congress may treat corporations differently than citizens with respect to free speech rights. This not only overrules both McConnell v. FEC (2003) and Austin v. Michigan Chamber of Commerce (1990), it contravenes the logic of the UNANIMOUS decision in 1982's FEC v. National Right to Work Committee.

That decision upheld the constitutional requirement that corporations establish "separate segregated funds" (i.e. PACs) in order to engage in political speech. Although Justice Kennedy distinguishes the case because it applied to a corporation with a PAC that made direct contributions to candidates, the logic applies equally to independent expenditures. In National Right to Work Committee (NRWC), the Court said:

In order to prevent both actual and apparent corruption, Congress aimed a part of its regulatory scheme at corporations. The statute reflects a legislative judgment that the special characteristics of the corporate structure require particularly careful regulation. While 441b restricts the solicitation of corporations and labor unions without great financial resources, as well as those more fortunately situated, we accept Congress' judgment that it is the potential for such influence that demands regulation. Nor will we second-guess a legislative determination as to the need for prophylactic measures where corruption is the evil feared. As we said in California Medical Assn. v. FEC, the 'differing structures and purposes' of different entities 'may require different forms of regulation in order to protect the integrity of the electoral process...

... The governmental interest in preventing both actual corruption and the appearance of corruption of elected officials has long been recognized... and there's no reason why it may not in this case be accomplished by treating unions, corporations, and similar organizations differently from individuals.

As Justice Stevens noted in his dissent, referring to the NRWC case, "We have unanimously concluded that [Congress placing special limitations on campaign spending by corporations] 'reflects a permissible assessment of the dangers posed by those entities to the electoral process...and have accepted the legislative judgment that the special characteristics of the corporate structure require particularly careful regulation..."

This is a huge blow to the integrity and fairness of our democracy. Citizens should not take it lying down. We must make clear to our leaders that we'll tolerate no more Supreme Court justices who believe corporations have the same free speech rights as citizens.

Take action to push back on this affront to citizen-powered democracy here.

And, view Progressive Future's press release here.

 
 
 
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Halsey
"There is a price to pay for speaking the truth. T
12:42 PM on 01/22/2010
I can't believe (when WILL I WAKE UP?)..that even this conversative court gave such a TEA POT DOME gift (history my friends)..to corporations... Adam...well-written sad news..to quote you:

"WellPoint Insurance and other corporations don't have the same rights as citizens. The vast majority of Americans agree. Unfortunately five members of the Supreme Court take another view..."

In this America...it is now...actually down in black and white..that Citizens don't have the same rights as corporations. All that is happening..outside the realm of my comprehension..up is down..down is up..the Right is..insane..and the Left is Balkanized (and stupid). I give up..Obama...blew it...my GOD he had a mandate...and pulled a bill clinton (hey..I voted for both these men...look at my OPTIONS).

I did not vote for WellPoint or Goldman Sachs OR Rahm Emmanuel..yet..they govern my world..and yours (unless you are lucky enough to comment from Canada, Denmark, etc). Like a child who finally accepts there is NO Santa Claus... I accept..the Audacity to Hope...an urban legend..
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rmonroe
07:53 PM on 01/22/2010
yea, the 5 CONSERVATIVE REPUBLICAN MEMBERS don't agree with average Americans. What does that say about the Republican Party? Yet mindless, clueless, brainwashed citizens of Massachusetts elects a Republican to represent them. IDIOTIC. How can they not see these people do not have their best interests in mind. The media(run by large corporations) have been feeding these mindless minions misinformation for 1 year and they fall right in line with and vote for the candidate that will make sure the rich and powerful get everything, and average Americans get s@it on. And they smile and laugh at how smart they are to vote for a nude model who drives a pickup truck and say, "we got you Obama" not even realizing they are causing themselves more harm. I feel like I went to sleep and woke up in an alternate universe where lies are truth and the truth is a lie. I wish I would wake up and be back to normal.
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patches12
11:45 AM on 02/27/2010
Last time I looked Justice Kennedy was NOT A CONSERVATIVE
12:58 PM on 02/18/2010
Corporations have to start Exploring the Real estate Markets in the Caribbean such as St. maarten
No capital gain taxes or Annual taxes. Investments that actually have a good returns.
www.sunshine-properties.com
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blueken
Finger Picking blues man
11:42 AM on 01/22/2010
I don't expect this shoe to wait until election time to hit the floor. I'm guessing that very soon you will see ads on TV calling any effort to reform health care "socialism" paid for by "Americans who Love Motherhood" financed by United Health Care. Next it will be ads saying "big government is interfering with American business" paid for by Citizens for A Free America financed by Goldman Sachs. The good news is, that the cable and broadcasting industry just got a whole lot of new customers for advertising.
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11:22 PM on 01/21/2010
escapeartist.com

I's start looking at other countries to live in.
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Halsey
"There is a price to pay for speaking the truth. T
12:31 PM on 01/22/2010
nomore..can I come with you?...(how do we get work permits?..
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03:10 PM on 01/22/2010
I see ' escape ' has a new jobs section.
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rmonroe
08:02 PM on 01/22/2010
It is sounding better and better everyday.
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realitytrumpsbull
two 'alves of coconut!
10:09 PM on 01/21/2010
Keep your money in a sock, or a coffee can etc. At least, some of it.
09:02 PM on 01/21/2010
The USA is not a Democracy, nor a republic, but a Plutocracy, a monarchy of the rich, for sale to the highest bidder.

Two great Lies have destroyed Democracy in the USA:

Money is speech, No it's Bribery duh.

Corporations are Persons, no they are legal fictions.

Insist, all Candidates pledge to:

Outlaw ALL political contributions for the OBVIOUS Bribery they are.

Mandate Free Prime time and a travel budget for all candidates on the ballot.

Bring Democracy to the USA.
06:44 PM on 01/21/2010
The conservatives have gotten their way...people don't have the right to medical care, but corporations have the right to subvert the democratic process. I can't even call this Orwellian, because he would never have written something so ridiculous.

The way I see it we've got a little less than a year to come up with a solution because this next election cycle will be OPENLY bought by the private sector. Maybe a law limiting donations by any party, since that would include corporations without violating the insane idea that corporations are equal to individuals.
05:32 PM on 01/21/2010
Welcome to Fascism.
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alan2a
Actual Progressive
05:18 PM on 01/21/2010
The fat lady has sung. We've lost. Corporations rule. Period. this is not even a corporate oligarchy. It is quite simply, with the addition of todays SCOTUS decision, we now live in a corporate dictatorship. And that's no joke. I'd suggest beginning to read some of the SF novels which lay out nicely what such a world in a short time may look like. Think about it. What Reagan started some 30 some years ago has come to fruition. Corporate America are not faceless soulless big business, no they are unique human individuals with every right of an ordinary citizen except they are exempt from all sorts of laws and taxes, because they are businesses that we are liable to. And disregard that they have untold billions to influence and control this countries policies toward us, themselves and foreign countries. If I could afford it, I swear by everything I hold dear I'd get the hell out of this sick depraved inhumane country.