It was a basic limitation of donations of hard money to campaigns which caused people to donate to what we call 527 organizations that have little accountability. These 527 groups can, and did, say anything to get a candidate elected. I'll send you more if you want it but the Campaign Finance Reform Act was one of Senator McCain and Finegold's worst ideas.
(527 refers to the IRS code)
The whole donations thing confuses me completely. I assume the one good thing that did come out of it was the Swiftboat Vetrans as I would think they would be classed as a 527.
The amount of money to me involved in just a senate or congress campaign is unbelieveable compared to what is spent in Britain on the whole general election campaign.
After all there was a row over the PM wife hairdressing bill
http://www.timesonline.co.uk/article/0,,17129-2144508,00.html
Here are further examples of our election costs which compared to yours to me seem minimal
http://news.bbc.co.uk/1/hi/uk_politics/4940182.stm