New Op-ed on Air America's Bankruptcy

The Washington Times has run a piece by myself and Brad Smith today. My own belief is that Air America has effectively been an attempt at getting around the campaign finance regulations. The bankruptcy rules will also work to ensure that others pay for their political advertising.

When is a campaign donation not a campaign donation? Apparently if you spend the money to run a radio program instead of paying for campaign ads that run on that same program. Just look at Air America. With $41 million in losses since 2004, and $9.8 million owed just to Robert Glaser, RealNetworks chairman, Democrats who bankrolled this "company" weren't so much investors as campaign contributors. The losses are seen as simple business ineptitude,but Air America effectively, and perhaps intentionally, cleverly avoided the campaign finance limits which Democrats had worked so hard to pass. . . .

UPDATE: There are some comments here and here.