President Barack Obama is condemning a decision by the Supreme Court to roll back restrictions on campaign donations by corporations and unions.

In a written statement, Obama says the campaign finance ruling will lead to a "stampede of special interest money in our politics." Obama declared that his administration will work with Democratic and Republican leaders in Congress to come up with a "forceful response" to the high court's action.

The Supreme Court ruled Thursday that corporations may spend as freely as they like to support or oppose candidates for president and Congress.

Obama called it a big victory for big oil, Wall Street banks, health insurance companies and other powerful interests.