This isn't running on TV, at least not yet. But the below web video, produced by the Sean Bielat (R) campaign is making the rounds anyhow.
You'll see why when you watch it. Bielat's running against Rep. Barney Frank (D-MA). Frank chairs the House Financial Services committee and is the most famous openly gay member of Congress. Bielat combines those two themes in the video to lay the responsibility for the financial crisis at Frank's feet... while portraying him as a hip-swerving disco queen in a rumpled suit.
The ad splices audio of Frank dispelling the notion of a dot-com-like housing bubble on to while images of Fannie Mae, Freddie Mac, and AIG drift across the screen.
The segment ends with a required disclosure, which Bielat renders thus: "(obligatory McCain-Feingold-incumbent-protection-mandated-message loved by anti-liberty forces everywhere)".
Watch the vid here.