I've been waiting for this.

A liberal blogger has filed a federal complaint against former Sen. Fred Thompson, the actor and unannounced Republican candidate for president, accusing him of violating election laws as he ponders his entry into the race.

The blogger, Lane Hudson, submitted his complaint to the Federal Election Commission on Monday saying Thompson has raised far more money than he needs to explore whether to run for president.

Federal law allows potential candidates to raise money to travel, conduct polls and pay for other expenses related to "testing the waters" for a political campaign. During that exploratory period, a potential candidate does not have to file financial reports with the FEC.

The law prohibits anyone who is "testing the waters" from hoarding the money for use during his actual campaign. Potential candidates also cannot refer to themselves as candidates, can't run ads that publicize their intention to campaign or take steps to qualify for the ballot in a primary or caucus state.

According to a financial report filed late last month, Thompson had raised nearly $3.5 million and had had spent $625,000. Thompson must raise money within federal contribution limits and must report it to the FEC once he becomes an official candidate.

"We're following the law," Thompson spokesman Jim Mills said in response to the complaint.

Under federal guidelines, the FEC will now give Thompson 15 days to respond to the complaint. Following Thompson's response, election commissioners will decide whether to dismiss the case or investigate further.

I pointed this out when Fred's contribution numbers came our last month.

2) Exploratory committees are only supposed to raise "what could reasonably be expected to be used for exploratory activities”. As Captain Ed has pointed out, Politico (which now is questioning the "low" numbers) raised that issue weeks ago -- and there have already been accusations by the KOS-sacks are, in fact, accusing Thompson of raising TOO MUCH money under that provision.

I'm just surprised that it has taken so long for someone to file a complaint. I suppose this will help clarify the incredibly vague rules on such activities -- as well as making it clear that efforts to regulate political contributions are fatally flawed no matter what you try to impose beyond full disclosure.