I've been trying to make heads or tails of this news since Tuesday, but to be honest, this intelligence is still above my pay grade. Since my lawyer friends refuse to help me out, I will try to explain the story as best I can- in case people don't regularly keep up with Supreme Court Law.
This past week, the U.S. Supreme Court has been listening to arguments from both sides of a case featuring a 90 minute documentary criticising then-presidential hopeful Hillary Clinton. Ads for the film were banned under the McCain-Feingold Campaign finance laws because of their political nature and proximity to the presidential primaries. A federal court also blocked any airings on cable TV or video-on-demand.
Ok, that's starting to get into details. Basically, this has boiled down to a free speech question and how much control the government has over politically funded messages. Making the case even larger in context, if it wanted to, the Supreme Court could actually deem the McCain-Feingold case unconstitutional, which would be a major deal.
Anyway, read up on it over at CNN.com.