Today, the Supreme Court ruled in the case Citizens United v. Federal Election Commission that the government may not ban political spending by corporations in candidate elections.

The New York Times reports, “The ruling was a vindication, the majority said, of the First Amendment’s most basic free speech principle — that the government has no business regulating political speech.” CNN adds, “At it’s core, McCain-Feingold clearly will continue to have an impact on every candidate, and everyone that raises or spends campaign dollars. But the law’s full power has been blunted significantly. Now the high court has mediated that tricky line, favoring the right of expression of corporations and individuals over congressional efforts to protect against electoral corruption. Coming soon to a television near you: campaign ads, ads, ads.”

On Countdown with Keith Olbermann, Congressman Alan Grayson [who was in the courtroom for the decision] states, “…this is the most irresponsible decision by the Supreme Court, since the Dred Scott decision, over 100 years ago.” “Today The Court in effect decided, only corporations have constitutional rights, this will lead to a drowning flood of money from corporations in exchange for favors.” “And it basically institutionalizes, and legalizes bribery on the largest scale imaginable.” “You won’t even hear people talk anymore about the Senator from Kansas or the Senator from Oregon, it’ll be the Senator from GE and the Senator from Microsoft, maybe we’ll end up wearing corporate logos.”

Grayson is fighting back via, SaveDemocracy.net. Here is what the petition reads:

I support the “Save Our Democracy” Package:

We cannot have a government that is bought and paid for by huge multinational corporations. We need a government of the people, by the people, and for the people.

Opinion of Justice Stevens, who dissented wrote: “The framers…took it as a given that corporations could be comprehensively regulated in the service of the public welfare.” “Although they make enormous contributions to our society, corporations are not actually members of it. They cannot vote or run for office. Because they may be managed and controlled by nonresidents, their interests may conflict in fundamental respects with the interests of eligible voters.”