Does Barack Obama’s $25 million fund-raising haul mean that the old system of big bundling is over?
That’s what one of his key fund-raisers told me earlier today.
It’s obviously convenient for the Obama people to suggest that Hillary Clinton’s financial network is antiquated and that Obama’s is new and revolutionary.
But as the fund-raiser pointed out, the fact that Obama raised money from 100,000 contributors, twice as many as Hillary Clinton, means that many more of them will be able to contribute again before they get to the $4,600 limit for the primary and general.
The donor boasted that Obama didn’t accept donations from PACs or lobbyists, and said that the late start the campaign got in raising cash meant that Obama’s March numbers would be larger than Clinton’s.
The Obama donor said that it took dozens of bundlers bringing in small amounts ($10,000 or so) to equal the efforts of any one of Hillary’s top money people. Nearly all of them are now in a position to do more.
— Jason Horowitz