By the time the Swift Boat story had played out, CNN, chasing after ratings leader Fox News, found time to mention the Swift Boat Veterans for Truth–hereafter, Swifties–in nearly 300 separate news segments, while more than one hundred New York Times articles and columns made mention of the Swifties. And during one overheated 12-day span in late August, the Washington Post mentioned the Swifties in page-one stories on Aug. 19, 20, 21 (two separate articles), 22, 24, 25, 26, 27, 28, 29, 30, and 31. It was a media monsoon that washed away Kerry’s momentum coming out of the Democratic convention.
How much money does it take to fight the media? Kerry needed an organized effort behind him. People forget that the Swift Liars was designed not only as a character assassination, but also a distraction. Imagine if Kerry had focused significant attention on the Swift Liars, today the cries would have been he stopped campaigning and got sidetracked. Even if he had gone after the Liars with more money, the media whores would have simply turned up the volume. What they did was loud enough to drown out any response, especially since the media didn't give equal time to Kerry's responses. They wanted Bush period.
Also, think about the Clinton vs. Wallace, how everyone jumped into action over one incident. That hasn't stopped the media, and there has been nothing more from Clinton, not even a response about his North Korea policy.
In the 2004 climate, except for a small group of Democrats and some MoveOn ads, there was no such organized rebuttal. Kerry kept responding, but again, look at the media's contribution to the Liar's effort!