friess has money, and lots of it.ckson hole wyoming based foundation he likes to give it away, millions to haiti relief efforts, millions to victims of the indonesian tsunami, and like it or not, during the 2012 election cycle, millions to the super pac supporting his pick for president. >> reporter: do you think there's something inherently wrong with all of that money? whether it's left or right? >> well, the reality is that it would be a lot better if people give directly to a campaign. if, drew, you're running for something, everybody else send money directly to you, you're in control of it. you don't have to play all these games, it's honest, up front, forward, fully disclosed. that's really the way it should be. >> reporter: friess has pushed the rules on super pacs by appearing at campaign stops. but law he's not supposed to talk to santorum about campaign strategy or what the red, white, and blue fund is doing to help the campaign. friess admits it's made his long term friendships with santorum, well, a little

super pac rules, the santorum supporting red, white and blue funds will eventually tell us how much friessonated. on the day we hit mim, she was offering another half million dollar if sportsman across the nation would match him. >> bang, a million dollar hits. >> reporter: it's the campaign influence that makes paul ryan of the campaign legal center cringe. >> these understandings that it's potentially corrupting, these super pacs put us back to the watergate era for potential for corruption. >> reporter: friess thinks they're not needed and would like to give his money right to santorum himself and let everyone know it. even james b oropp admits we'd better off without a super pac. >> you can't vote for or against a super pac and can vote for a candidate. it would be better if this money went to candidates from an accountability standpoint. the voter could decide. >> reporter: the complaints revolves around what ifs, not what actually happened. paul ryan is convinced what's about to happen is a wave of political corruption. >> reporter: have you direct knowledge of corruption or anticipa

the super pacs put us right back to the pre-watergate era for potential corruption. >> reporter: friesshinks they're not needed and would like to give his money right to santorum himself and let everyone know it. even james bopp admits we'd be better off without a super pac. >> you can't vote for or against a super pac and can vote for a candidate. it would be better if this money went to candidates from an accountability standpoint. the voter could decide. >> reporter: the complaints revolves around what ifs, not what actually happened. paul ryan is convinced what's about to happen is a wave of political corruption. >> reporter: have you direct knowledge of corruption or anticipating that? >> no. i'm anticipating it. >> reporter: super pacs can be penalized if they fail to report in time or coordinate with a candidate, but investigations are rare and fines are, well, minuscule. don mcgann says if you don't like the rules, it's easy to find the people who wrote them. >> as an sec commissioner, i would say go to the folks who sit in the white dome, your elected representatives and compla

and friesss from friess associates is backing santorum. huntsman senior, the founder of the huntsman consideration is backing his son. they are putting in millions in two super pacs. bring in the panel. fred barnes, mara liasson and syndicated columnist charles krauthammer. >> we to be careful, we have billionaires and we have to wait to see how much money they are going to spend. the figure is they will spend a good chunk of money to raise the rate to $7 million race. romney is ahead. polls, at least one and maybe none of them are, that show gingrich catching up with him. gingrich who i think is running a kamikaze campaign is all the bain stuff and you heard perry about it, too. i think it is hurting romney some. we will see how it winds up. my guess is romney will win down there anyway. if you hear rick perry, you hear that romney and bain went in to destruct the companies, destroy them or something. that is not the private equity firms do. they go in and try to make mem profitable. sometimes they can't. i have to liquidate them. people