31/01/2013 00:00
TW
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by RAY FLEMING
AT the risk of appearing to be a paid publicist for Michael Moore I will mention his sarcastically titled film Capitalism: A Love Story (currently showing at the Renoir Cinema in Palma!) for a second time in less than a week. My first reference to it here followed President Obama's assault on Wall Street bankers at the end of last week. Today its relevance is to the decision handed down by the United States Supreme Court that affects the way in which money can be spent by US corporations on political campaigns. The Court decided by the narrow margin of 5-4 to change the law in such a way that, to quote the minority of four judges, it “threatens to undermine the integrity of elected institutions across the nation.”

Under previous legislation companies wanting to give financial support to political parties had to do so through designated political action committees which placed limits on the amount of money that could be accepted. Even so, in 2008 about one million dollars were contributed by businesses, trade groups and unions. Now, following the Supreme Court ruling that businesses etc are entitled to as much freedom of expression as any individual, the amount of money poured into political coffers will increase greatly, and most of it will go the Republican Party. As Moore's film shows, big business and Wall Street are interested only in one thing -- making money by whatever means are open to them and regardless of the harm they do the community in the process.