Everyone Was Wrong About McCain-Feingold! We all missed a giant loophole in the law. I was wrong about the McCain-Feingold campaign finance reform law. The New York Times was wrong. Peter Beinart was wrong. And E. J. Dionne was wrong, too! We all missed an important wrinkle in the new law—important because understanding it reveals a gaping hole in the bill, a hole the bill's legal defenders (if you ask them) freely admit exists. Necessary background: Along with many others, I criticized McCain-Feingold for banning last-minute TV and radio ads sponsored by nonprofit advocacy groups even when those ads were...