No Joke 1

But its darned funny.

But there’s actual substance behind the punch line: Colbert is setting up a superPAC to run campaign ads. The FEC got involved when he asked for an opinion on how to finance the superPAC. His query suggested the possibility of a new loophole — a way for media companies to underwrite commentators with political ambitions.

Now Fox News can give Sarah Palin more than just a paycheck.