Last week, Matt Stoller, president of Blog PAC, principal at Open Left, and Sunlight Foundation consultant, gave an interesting speech at the University of Connecticut Law School where he advocates a rethinking of the historic approach to campaign finance law, a system that has not kept pace with the Web 2.0 revolution. 

Reformers usually think about changing the campaign finance laws to limit the influence of big money in politics. As we know, the lion’s share of the money is spent on TV, radio, and for mass mailings, what Matt terms "spammy media." This, he says, should be regulated. But for the Internet, what Matt calls "social media" because of its infinite possibilities  for consumption and participation, he suggests a deregulation scheme.  Specifically calling for the establishment of a kind of two-tierd regulatory system that limits the "spam quotient" of modern campaigns and encourages the social context of politics.

Interesting… Check it out.