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...the ad, while professionally produced, was put on YouTube and then spread in such a way as to make it seem like amateurs had made it and spread it. We can't help but wonder if the missing disclaimer on the video was an intentional exploitation of a loophole meant to distance the people behind the ad from its outright lies?We also can't help but wonder if maybe those who produced the ad believed that the lack of disclaimer constituted an FEC violation? Which would be an alternative explanation for why they did not wish to be connected to it.Beyond the disclaimer, though, our reading of FEC regulations suggests that political campaign and 527 groups, such as Moveon.org, are required to report money spent on advertising opposing a candidate for public office. We can find no exception for advertising intended for web only campaigns.We assume that if some group paid for the production of the video, that it would be reported to the FEC. Not doing so, we believe, would constitute a breach of federal campaign law.