It has been illegal for corporations to donate directly to a political campaign since 1907, when Teddy Roosevelt pushed for that era’s big campaign finance overhaul. And even in the last forty years we’ve seen one new version of this reform attempted after another, as politicians have found ways to circumvent the old laws.

Democratic presidential candidate Barack Obama has done what no other presidential candidate has done before him: raise $600 million. Last night's 30-minute prime-time television commercial could have implications for future campaign finance reform.