Many Senators, however, are apprehensive about campaign finance reform. In the 2000 election cycle, Democrats matched Republicans on soft money. That sounds like the worst possible deal for Democrats. But Hagel's approach may be the only feasible compromise. Democrats, who took the lead in exploiting the soft-money loophole in current law during the presidential campaigns of Michael Dukakis and Bill Clinton, are now the uncertain soldiers of reform.
Republicans are determined to stop reform while claiming the mantle of reformers.
Meanwhile, the tidal wave of political money rolls on. We saw it at the Democratic National Convention. Feingold's watery imagery is apt. The record shows that if money is prevented from flowing one way, it will find other openings. More from National Journal.