Seth Masket argues that campaign finance reform has failed:

If you want to know who contributed to the campaign of a president or a senator or a state legislator, it's not as easy to figure it out as it used to be. All these webs of committees that have cropped up to get around campaign finance limits end up obscuring the path of the money. … The end result is that these reforms designed to reduce the role of money in campaigns not only don't end up reducing the role of money in campaigns, but they actually reduce accountability and transparency.