Why Alito shook his head: Obama exaggerates impact of Supreme Court ruling on foreign companies Barely True 
On Jan. 21, 2010, the U.S. Supreme Court issued a landmark ruling striking down barriers to corporations spending money directly from their own treasuries to influence elections. The 5-4 decision in Citizens United vs. Federal Election Commission has drawn fire from President Barack Obama twice -- first in a weekly radio address and, now, during his State of the Union address.
The president told a joint session of Congress on Jan. 27, 2010, that "it's time to put strict limits on the contributions that lobbyists give to candidates for federal office. Last week the Supreme Court reversed a century of law that I believe will open the floodgates for special interests –- including foreign corporations –- to spend without limit in our elections. Well I don't think American elections should be bankrolled by America's most powerful interests, and worse, by foreign entities. They should be decided by the American people, and that's why I'm urging Democrats and Republicans to pass a bill that helps to right this wrong."
http://www.politifact.com/truth-o-meter/statements/2010/jan/27/barack-obama/obama-says-supreme-court-ruling-allows-foreign-com/