Is the Colbert Campaign Legal?

Recently several news sites have published doubts concerning the legality of Stephen Colbert’s campaign. Today we’ll take an in-depth analysis of this issue.

The ‘problem’
Supposedly, according to the so-called ‘legal experts’, federal law prohibits corporations from backing political campaigns. Therefore, they ‘conclude’, Doritos is not allowed to sponsor the Colbert campaign.

The other ‘problem’ is that Comedy Central isn’t ‘supposed to’ give a whole show to Colbert himself.

"The real problem comes in the fact that he actually has his own show, talking about his campaign, paid for by a network," Lawrence M. Noble, a former general counsel for the Federal Election Commission said. "These are the kind of things on slow days you'd debate until the late afternoon at the FEC, but there are serious questions that come up. In theory, he could end up having some campaign finance problems."

Oh c’mon, are you serious?
I’ll give some historical president precedent. When Ronald Reagan was elected, was he blurred out of his movies? Was Bill Clinton edited out of Secretaries Gone Wild? I think not.

Don’t be hatin', FEC.