Watching McCain-Feingold. (Scan).(Bipartisan Campaign Finance Reform Act)

When "bipartisan campaign finance reform" was signed into law by President Bush, both backers and critics knew that only time would tell exactly what effects the changes in campaign law would have. Would the parties crumble without soft money? Would special interests get shut out of the system? Is political speech dead?

While it is still too early to give a definitive answer on any front, McCain-Feingold has certainly had an impact on Washington. The Washington Post reported that at a recent Republican Party meeting the usual lavish meals and gifts had been replaced by a modest breakfast of fruit and toast.

Although McCain-Feingold may trim a few waistlines, the jury is still out on whether it will accomplish its goal of trimming money from American politics. Even if the bill is able to take some of the soft money out of the coffers of political parties, it is unknown whether the money will leave the system or simply shift over to special interest groups.

Recently, the Association of Trial Lawyers of American (ATLA) began a ...