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From what I understand Mike Bloomberg could spend all the money he wants on campaign ads even before the decision today since he wasn't prohibited as an individual from doing so.
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Ads for himself, yes. This allows for unrestricted spending by any group for any campaign. It basically means that if you've got rich and powerful friends, say Wall Street bankers, you can buy any election by going around the law. This isn't remotely "free speech." It's sale of the government to the highest bidder.