Comedian Stephen Colbert can launch a so-called super political action committee and, in theory, raise unlimited amounts of campaign cash for the 2012 political season, .
The Comedy Central star got the OK this morning thanks to a 5-1 vote by the Federal Election Commission. The legal issues involved whether Viacom, which owns Comedy Central, would be making "in-kind" contributions to candidates if Stephen does this. According to the FEC, he qualifies — mostly — for a media exemption from restrictions.
In case you haven't been following Stepehen's bid to be like Karl Rove and his other "heroes," there are .
Later today, NPR's Peter Overby is due to explain how a super PAC works on All Things Considered.
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