McCain would “prefer” that the independent group financing ads in SC take down their ads. But isn’t this precisely the result which McCain Feingold has wrought on the campaign finance system? The wink-wink, nod-nod system of unaccountable and undisclosed financing that many opponents of McCain Feingold predicted is in full display here. As AP points out: “Financed mainly by McCain backers, the Foundation for a Secure and Prosperous America was created with the help of Republican admaker Rick Reed. He called himself a volunteer with McCain’s presidential effort earlier this year, and he is close to McCain’s campaign manager, Rick Davis.” Given that McCain’s “real” campaign is apparently broke (and pulling together a $3M loan) this is a deliciously ironic example of how McCain Feingold has been totally ineffective in getting campaigns to play within the boundaries of strict rules limiting hard money contributions.
