Apparently, PACs and the FEC are playing a serious game of Calvinball over disclosure rules. Bill Allison at Real Time Investigations looks at the ways PACs get around disclosure requirements by, well, making up the rules as they go along. This is how I imagine the disclosure Calvinball dialogue as it is played:

“I’m in the no-disclosure zone,” PAC. “The no-disclosure zone only works in odd years and when you sing the ‘I hate transparency’ song,” FEC. “Pppfffttt!!!,” PAC.