The loophole is now big enough to drive several trucks through. Both parties have come to depend on this money, and many companies now have found themselves caught in a trap. What they started has now become a huge problem for them, when they are told they must give money if they want to continue to have access. The price of access and influence has gone up. That's what's called hard money.
Soft money refers to the unlimited, unregulated amounts which can be given to the political parties.
I do lean heavily Democratic, but I also think that you may have been coming down more hard on the Republicans than the Democrats. We're not through yet, and from what I have seen, in Philadelphia and in Los Angeles, it's difficult to know who engages in the more excessive fund-raising techniques. The fact is, according to documents filed at the Federal Elections Commission, that only about 35 percent of the money raised in presidential elections goes for media advertising. But there's no doubt that the need to purchase expensive television commercials plays a significant role in the scramble for campaign money. The fact is, both parties do the same thing, and what they do is provide access to important members of Congress for cash contributions.