Word: 527s
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...However uncomfortable, Obama needs to keep pressing his case, or else Republicans will do it for him. "It's an open question whether patriotism will work as a wedge issue against Obama, but early signs are that the G.O.P. and G.O.P.-leaning 527s are betting that it will," says Stephen Schneck, a political science professor at Catholic University in Washington. At the same time, Obama's strategy of trying to separate McCain's military record from his foreign policy expertise does not appear to be working. Every time an Obama surrogate mentions McCain's war record, they highlight his greatest...
...changes that do not affect the underlying incentives to donate, and, as a result, campaign finance reforms just shift money around. So, when “soft” money was banned by the 2002 McCain-Feingold reform, candidates raised more “hard” money, and 527s (such as the Swift Boat Veterans) picked up the remaining slack...
...with an eye-roll worthy of Paul Lynde.) There was the decision not to respond immediately to the Swift Boats for Truth ads ("John Kerry should have gotten pissed" says one former volunteer). There was the decision to leave get-out-the-vote operations to independent groups - known as 527s - rather than let the central operation mastermind the whole thing...
...small ad campaign by an obscure organization called Swift Boat Veterans for Truth smeared John Kerry's Vietnam War record and dealt his campaign a blow from which it never fully recovered. The episode demonstrated the new power of independent political organizations, known as 527s or 501(c)s for the sections of the tax code under which they operate. These groups function outside the campaign-finance laws. Among other things, most can collect unlimited contributions...
...make up the difference in traditional fundraising. These organizations exploited a loophole in federal election law that effectively nullifies recent campaign finance reforms. Dean’s ability to raise hard money may allow Democrats to compete with Republicans without relying on ethically and legally questionable organizations like 527s...