John McCain, flush with the fundraising prospects bestowed upon the Republican frontrunner for the presidential nomination, is opting back out of the presidential public financing system, after months of doing one-foot-in-one-foot out with the matching funds program, as Adam Bonin explains.
The difficulty of course is that the Federal Election Commission, which administers the presidential public financing system, is currently unable to issue binding rulings because it's short a few commissioners so it could be that what McCain is doing is legal, it could be totally illegal, and it probably won't be sorted out until the election is over anyway. Either way it's an interesting move for someone who has made a name for himself as champion of campaign finance issues.
Sen. McCain pledged to opt in to the presidential public financing system for the general election if his opponent did the same (Sen. Barack Obama pledged to do the same). Think he'll keep his word?