US - Is Air America violating Campaign Finance Laws?

Could be.

So almost $22,000 a day ($8 million in losses spread over a year) is being funneled into AAR by George Soros and the gang to promote candidates they would otherwise be limited to donating some multiple of $2,100 to (of course they can still do that too), while at the same time giving these candidates air time and web site promotion to raise money from others.

From here, this looks like an end-run around campaign finance laws, not that it will mean much to the rest of the media.

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