Congressional Democrats recently filed a federal racketeering lawsuit against House Majority Whip Tom DeLay. The allegation is that the Texas Republican, always known as a tough mug, has elevated his party fund-raising technique from figurative arm-twisting to literal knee-capping.

Republicans respond with the charge that Democrats are merely trying to divert public attention from their own legal and ethical fund-raising troubles, particularly those of Vice President Al Gore. Democrats retort that Republicans are terrified that their reign of terror — or at least of selling legislation to the highest bidder — is near the end. Republicans … you get the picture. Trace this feud back its origin and you’ll find yourself in the Hoover administration.

While the argument over who started it and who did it worse seems endless and pointless, it has served a purpose: the only ones in or out of Washington who are not convinced the political fund-raising system is rotten to the core are those who are in on the scam. The argument for complete reform of campaign finance is overwhelming, everywhere but on Capitol Hill.

The allegations, unsubstantiated so far, against Rep. DeLay are serious — threatening to withhold desired legislation unless donors pony up big time and directing contributions to sham organizations outside the law — your basic extortion and money-laundering. The strength of the Democrat’s case remains to be seen, but at least now the tactics both parties have used for years are being called by the right names. The Olds Pols of the smoke-filled room never were much different from the Wise Guys.

If the allegations are serious, the details are hilarious. Rep. DeLay says they’ll never lay a mitt on him, his lawyers have him covered. The White House is trying to explain away the disappearance of a quarter-million e-mails pertaining to its fund-raising schemes. The vice president says he missed most of the briefing on his own difficulties because he drank so much iced tea he was in the bathroom most of the time.

Never has the need for reform been more clear. Never, for that matter, has the need for a strong, organized, focused third party. If all that was at stake was the amount of gangland-style damage Republicans and Democrats can do to each other, it would be easy enough to say they deserve all they’ve got coming. The American people, just months away from electing a new government, deserve far better.