I believe the idea of public funding for campaign is very wise.  But it then turns into a betrayal of trust when candidates exploit it for their personal gains.  One big case is John McCain's pledge to a bank for a $5 million loan on the basis of taking a public funding.  See the full story from Washington Post article below:
http://www.washingtonpost.com/wp-dyn/con tent/article/2008/02/15/AR2008021503639_ pf.html

Based on this singular move, I would advise Barack Obama not take the public funding to fight John McCain in November.  McCain's offer were not completely genuine but as a result of his fundraising incapability and an effort to curtail his opponent's strengths.

Taking public funding would be rewarding John McCain for being disingenuous.  The democratic nominee should give away the election to the republicans by tying his/her hands while the other party could boast of innumerable 527s and Swiftboaters.

What do you think?