The McCain-Feingold Campaign Finance Reform Bill, signed into law in '02(?), was an attempt to rein in the out of control 'soft money' nature of US Federal political campaigns. They designated a new PAC structure, subject to certain rules about content and when they could say what, then FOOLISHLY spun the tap completely open. The IRS tax code that governs these groups' finances is numbered '527', and the blanket name has stuck.
The stink about them is that while a handful of Limosine Liberals were pouring somewhere between $60 and $130 Million dollars into the biggest steaming pile of 'Bush=Hitler' -type ads, nobody in mainstream media or Leftists politics has ANYTHING to say about the (in criticism). But then came along Swift Boat Veterans for Truth, comprised of people that spoke against Kerry 33 yrs ago, and since, and who spent all of a couple hundred thousand on their first ad buy, and all of a sudden the Libs are screaming like the scalded bitches they are. All of a sudden they are all full of propriety and concern for "smear" attacks, calling on BUsh to silence a group he legally can have no connections to, HAS no connections to, and is legally prohibited from censoring in any way, all while MoveOn and other key Liberal 527 who have DOCUMENTED coordinating relationships with the Kerry campaign - something banned by the McCain-Feingold legislation - that are staffed by former members of the Kerry campaign, the DNC and other key Dem Party groups.
Democrats are being hypocritical bitches because their Candidate is getting ass-raped with the Truth, with FAR less money than the Dems have spent to truly smear Bush.
and try to keep up a bit, fer fuck's sake - it's only the most important Presidential of our lifetimes.