You can take my blog when you can pry it from my cold dead electrons

It's not enough that he's beloved by DemoncRats, or that he was one of the traitorous seven. No, the McCain/Feingold Act, which was supposed to remove big money from the election process and in actuality had the complete opposite effect, strikes again. Now the FEC is looking into the Blogosphere to regulate it during elections.
Blogs are currently exempted from the regulatory restrictions of the law, since they were not in existence when the law was first written...or at least not in any form that the lawmakers would be intelligent enough to pick up on. However, since it's been written, and as displayed in the last election, blogs are hugely influential in politics. Looking at Michelle Malkin's site, Free Republic, or Red State, you see the numbers are impressive. Even liberal sites are just as active. While there's a pretty big dropoff from the 'Daily Kos' down to the number two trafficked site, Kos' site is one of the most popular political blogs on the net, followed shortly by Instapundit. I'd wager that most of Kos' hits are conservatives reading and laughing at how stupid liberals are.
But the real point here is now the FEC is looking into rules to govern the activities of blogs around elections. Technically it's looking into rules to govern advertising on the Internet during elections, but if you look at the other text, they're also talking about definitions of contributions and expenditures. If you pay to host your blog, and it's a political blog in support of a candidate (or in opposition), is that considered a contribution? RedState has letters from organizations which support both sides of the issue here

Here's where freedom of speech definitely is being violated, and I don't care WHAT the Supreme Court says. My blog is my speech. My speech is what I think(much to my chagrin somtimes). Governing my speech is governing my thought. McCain/Feingold in unconstitutional in any court with any common sense. Unfortunately, as the Supreme Court has displayed on many occasions of late, they are lacking severely in that fundamental trait.

If the FEC is going to try to regulate 10 million blogs, they're going to need a lot more staffing. In addition, to try to shut down, or fine the owners of those blogs, is going to take a tremendous enforcement arm, which in my opinion will cause an uproar, the likes of which we've not seen in some time.