President Obama said the Supreme Court gave a "green light" to special interests with its decision today allowing corporations to spend as much money as they want to elect or defeat poltical candidates.

Obama added that he will ask Congress for new legislation to address the high court's ruling.

With its ruling today, the Supreme Court has given a green light to a new stampede of special interest money in our politics. It is a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans. This ruling gives the special interests and their lobbyists even more power in Washington -- while undermining the influence of average Americans who make small contributions to support their preferred candidates. That's why I am instructing my Administration to get to work immediately with Congress on this issue. We are going to talk with bipartisan Congressional leaders to develop a forceful response to this decision. The public interest requires nothing less.

(Posted by David Jackson)