A federal judge in Washington, James Robertson, is rejecting arguments by a group opposing campaign finance regulation, Speechnow.org, that the $5,000 cap on individual donations to independent political action committees active in federal campaigns is unconstitutional. “Plaintiffs’ argument presents a false syllogism that relies on a ‘crabbed view of corruption, and particularly of the appearance of corruption’ that is at odds with Supreme Court precedent,” Judge Robertson wrote in a ruling yesterday denying the group’s request for a preliminary injunction lifting the limit.

“‘Independence’ does not prevent candidates, officeholders, and party apparatchiks from being made aware of the identities of large donors, and people who operate independent expenditure committees can have the kind of ‘close ties’ to federal parties and officeholders that render them ‘uniquely positioned to serve as conduits for corruption,’ both in terms of the sale of access and the circumvention of the soft money ban,” the judge wrote.

“He is saying to be truly independent is impossible, but that is the exception that swallows the First Amendment,” a lawyer backing the challenge, Steven Simpson of the Institute for Justice, said, vowing an appeal. “People have the right to speak. They don’t have to apologize for the fact that other people might abuse that right.”

A supporter of campaign finance regulation, Tara Malloy of the Campaign Legal Center, praised the ruling. “The idea that 527 groups are sort of magically independent really doesn’t withstand scrutiny,” she said.

OBAMA GOT DISCOUNT ON HOME LOAN

Shortly after joining the U.S. Senate and while enjoying a surge in income, Senator Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois.

The freshman Democratic senator received a discount. He locked in an interest rate of 5.625% on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago. The loan was unusually large, known in banker lingo as a “super super jumbo.” Mr. Obama paid no origination fee or discount points, as some consumers do to reduce their interest rates.

Compared with the average terms offered at the time in Chicago, Mr. Obama’s rate could have saved him more than $300 per month.

An Obama spokesman, Ben LaBolt, said the rate was adjusted to account for a competing offer from another lender and other factors.

MCCAIN TO ADVOCATE FREE TRADE IN LATIN AMERICA

Senator McCain portrayed free trade yesterday as a win-win proposition for America and its Latin American economic partners, but labor leaders said it’s been a big loser for Rust Belt voters.

The Republican presidential hopeful began a three-day visit to Colombia and Mexico after a campaign swing through Indiana and Pennsylvania, two states hit hard by the loss of manufacturing jobs partly due to trade agreements such as the North American Free Trade Agreement between America, Mexico, and Canada, which Mr. McCain strongly supports.

Mr. McCain and his wife, Cindy, met President Uribe of Colombia at the president’s ceremonial home in Cartagena before a meeting between the two men and several Colombian cabinet ministers.

As Mr. McCain headed abroad, Senator Obama repeated his vow to renegotiate NAFTA if elected to include enforceable labor and environmental provisions. At a news conference in Ohio, a state hard-hit by job losses, Mr. Obama said, “The United States wanting to make sure that its … standards aren’t being undermined isn’t imperialist.”

Although Mr. Obama didn’t mention Mr. McCain or his trip, a prominent Obama supporter criticized Mr. McCain’s visit.

CLARK REFUSES TO APOLOGIZE FOR MCCAIN COMMENT

A retired general, Wesley Clark, rejected suggestions he apologize yesterday for saying Senator McCain’s medal-winning military service does not qualify him for the White House.

Elaborating, General Clark said a president must have judgment, not merely courage and character.

Senator Obama, the Democratic presidential hopeful, said General Clark’s comments had been inartful. Messrs. McCain said Obama should go further than that.

“I think the time has come for Senator Obama to not just repudiate General Clark, but to cut him loose,” Mr. McCain said en route to Colombia.

One ally of the Republican presidential contender accused Mr. Obama of “winking and nodding” when he should be condemning General Clark and his comments. “This is now about Obama, not Wesley Clark,” Orson Swindle added on a conference call with reporters organized by the McCain campaign.