Colbert Quits Super PAC Game
But learns how to keep the money
By Matt Cantor, Newser User
Posted Nov 13, 2012 10:29 AM CST
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(Newser) – Stephen Colbert spent a lot of time hawking his super PAC, but in the end, he admits it was all for naught. And after taking all that money from "anonymous, scary donors," Colbert feared repercussions, he said on last night's Colbert Report. After trying to blame his woes on Jon Stewart and a glasses-wearing ham named "Ham Rove," Colbert brought former FEC chairman Trevor Potter on for advice on how to get "out of the game" and shut down his super PAC—while keeping the money.

Potter said it was possible, through the magic of a fund known as a 501(c)(4): Just pass it through one such fund into a secret, second 501(c)(4), alongside a letter describing what to do with the cash. Then, "no one ever knows what happened" to the money. "I love America!" Colbert said. Meanwhile, over at the Daily Show, Jon Stewart was furious at himself, Gawker reports: David Petraeus' mistress Paula Broadwell heaped praise on the general when she appeared on the show to plug her book, and Stewart never had an inkling of any affair. "I am the worst journalist in the world," he moaned.

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Nov 13, 2012 9:05 PM CST
Not the final chapter. I bet that cash is going to end up somewhere charitable.
Nov 13, 2012 2:09 PM CST
Kingmaker did it again! Stephen shines the light on campaign funding abuse; will we do anything about it, or all we all just sheep?
Nov 13, 2012 12:59 PM CST
These 501(c)(4) funds sound like a good way to steal other peoples money. Sounds like these funds are a collusion of Wall Street and the GOP. Go figure.