President Warns of 'Corporate Takeover'

(UPI.com) - U.S. President Barack Obama Saturday warned of a "corporate takeover" of democracy and said Republicans want the public kept "in the dark" on campaign funding.

In his weekly radio and Internet address, the Democratic president found fault with a Supreme Court ruling that permits corporations, unions and other organizations to spend "unlimited amounts of money to influence our elections."

"They can buy millions of dollars worth of TV ads -- and worst of all, they don't even have to reveal who is actually paying for them," he said.

"A group can hide behind a phony name like 'Citizens for a Better Future,' even if a more accurate name would be 'Corporations for Weaker Oversight.'"