McCain will try to replace FEC and enforce limits on 527's

In addition, Feingold and I joined the congressmen in introducing legislation to require 527s to register as political committees and to comply with existing contribution limits.

It is clear that the FEC is a failed agency with overtly partisan commissioners who oppose both new and longstanding campaign finance statutes. The FEC has proved its ineffectiveness and its willingness to run roughshod over the will of the Congress, the Supreme Court, the American people and the Constitution. In January, the new Congress will convene, and we will initiate a new round of necessary reforms — beginning with a new enforcement agency to replace the FEC

Why is it that I don't trust him on this? In general, Democrats used the 527's more effectively than did the Republicans -- so the "loophole" has to be closed?