Posted on 05/08/2008 9:32:46 AM PDT by The_Republican
A key component in the Democratic presidential race is all but decided: In fund raising, victory belongs to Sen. Barack Obama.
As recently as a few months ago, New York Sen. Hillary Clinton had a seemingly invincible money machine -- a political ATM of well-connected followers who could raise tens of thousands of dollars with a few phone calls. But just as Sen. Obama has topped her at the polls, the Illinois senator's Internet-driven fund-raising model has eclipsed the one favored by the Clinton campaign.
Sen. Obama overtook Sen. Clinton in total fund raising in February and has raised more since. The New York senator, meanwhile, has loaned herself $6.4 million in the past few weeks, her campaign acknowledged Wednesday.
The political battle between the two candidates has been framed as one of experience versus youth, old against new. In the money hunt, Sen. Clinton has focused on the tried-and-true practice of bundling, which relies on a few hundred well-connected money raisers to wrench maximum contributions from donors. Sen. Obama has largely abandoned bundling, instead drawing on a Web-based cadre of hundreds of thousands of more modest givers.
To be sure, the Clinton campaign has raised twice as much money as observers thought it would need a year ago. And key supporters say the machine keeps spinning cash. New York financier Hassan Nemazee, a Clinton bundler and a finance chairman of her campaign, helped stage a fund-raising event in Texas last month that brought in $150,000. "I can still raise hundreds of thousands of dollars a month,'' Mr. Nemazee says.
But by comparison, Sen. Obama's army of small donors "can raise a quarter million dollars in an hour," concedes Yashar Hedayat, a Los Angeles businessman and a Clinton finance co-chairman.
(Excerpt) Read more at online.wsj.com ...
Hope Sen. Osama keeps one eye in the rear view mirror should Mrs. Clinton lose.
They forgot to mention George Soros and the lefty millionaires who have come out for Obama.
Hope Sen. Osama keeps one eye in the rear view mirror should Mrs. Clinton lose.
Hypocrite Osama rakes it in from trial lawyers but says they are not a “PAC”.
“They forgot to mention George Soros and the lefty millionaires who have come out for Obama.”
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