In case you've been missing out on the who Kerry/Swiftvets thing (and if all your doing is watching the major media you probably are), Bill has seen fit to summarize and clarify the whole thing for us.
He [Kerry] talks about Vietnam so much, voters start thinking it's 1970 again. But his old nemesises, the SBVFT appear and expose him for what he really is -- a liberal, pacifist old hippie who just happens to have five houses and a billion dollars because he married a successful ketchup salesman. The old charges are brought up - he lied about how he got his medals, he lied about throwing his medals/ribbons/jacket/pants over the White House fence at some protest, he lied about being in Cambodia. Like the kids in that Who song Happy Jack, he lied and lied and lied and lied and lied. And while the kids couldn't hurt Jack, the Swift Boat Veterans for Truth certainly could. And they did and continue to hurt him by pointing out his lies as well as how huge his chin is.
I think Bill took some liberties with the story here and there (and he admits it), but basically, he nails it.