2010 State of the Union address: on Corporations

Barack Obama: OpEd: Overturn Court's campaign financing ruling in Congress

Even though Obama had ad-libbed "with all due deference to separation of powers" into his prepared text before unloading on the court, this was big-time head-butting between the Executive and Judicial branches of federal government. Some legal authorities worry about this.

In a way, Obama wasn't speaking directly to the court, but to Congress. The president and boosters of campaign finance law want lawmakers to pass something that can limit campaign contributions by corporations while also passing constitutional muster with the high court.

Samuel Alito: "Simply not true" that companies will bankroll campaigns

Now, normally the justices express no emotion durin the president's speech--no applauding, no sniggering, no eye-rolling. But Obama's mention of the campaign finance decision--Obama said American elections would be "bankrolled by America's most powerful interests, or worse, by foreign entities"--caused Associate Justice Samuel Alito's expression to go dark as he shook his head and appeared to say "Simply not true."

In the wake of the court's recent decision, Democrats are hustling to craft legislation that would limit corporate political advertising --especially for corporations with foreign connections.

If such legislation is ever signed into law, it'll be fun to watch as it goes to the Supreme Court (which it surely would)--especially to see what Justice Alito would have to say about it.

Barack Obama: Lend $30B in TARP repayments to small businesses

We should start where most new jobs do--in small businesses, companies that begin when an entrepreneur takes a chance on a dream, or a worker decides it's time she became her own boss. Through sheer grit and determination, these companies have weathered the recession and they're ready to grow. But even though banks on Wall Street are lending again, they're mostly lending to bigger companies. Financing remains difficult for small business-owners, even those that are making a profit.

So tonight, I'm proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. I'm also proposing a new small business tax credit--one that will go to over one million small businesses who hire new workers or raise wages.

Barack Obama: American elections shouldn't be bankrolled by corporations

Barack Obama: FactCheck: Many steps until companies can bankroll elections

But it's unclear whether the court's opinion in the case, Citizens United v. Federal Election Commission, will lead to allowing foreign-based corporations to buy campaign ads and engage in other electioneering activities. There is still a law barring foreign corporations from spending money in connection with US elections (see 2 USC 441e(b)(3)), and that's a matter likely to be litigated further. The court's most recent decision explicitly didn't deal with that question. But strictly speaking, Obama couched his claim as something "I believe," making it a statement of opinion and not of fact. So whether his view turns out to be right remains to be seen.