The "Swift Boat Veterans for Truth" have been torpedoed with a $299,000 fine for playing swift and loose with election laws.The Federal Election Commission ruled that if a 527 organization -- like the Swifties -- have no other purpose other than to act for or against a specific candidate -- they have to register as a political committee.
As a 527, they could accept unlimited contributions. As a political committee, they faced $5,000 limits.
Bob Perry funneled $9 million of his own cash into the Swifties and two other 527s, helping the organization this fine. (TPM, cartoon from USNews.com)
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