WHY ASPIRANTS DON'T SAY "HECK, YES, I'M RUNNING." This Ron Elving column explains more than many would care to know about presidential exploratory committees and formal announcements of candidacy. Much of that foofaraw is driven by campaign finance "reforms."

And then the candidate's dance of the seven veils has begun.

The next step is another veil -- usually the formation of an exploratory committee to consider formal candidacy. The exploratory committee has been around for decades, and technically it creates a legal shell for a candidate who expects to spend more than $5,000 while contemplating an actual run. Under the rules, exploratory money may be raised without the full disclosure of sources required of true candidates. Only when the candidate drops the exploratory label does the full responsibility of transparency apply.

The balance of the article is similarly instructive.

Must research Duncan Hunter.

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