Your daily dose of irony….
Watchdogs Want To Curb Campaign Bundlers after Obama Tidal Wave
CQ Politics, 10/23/08
Watchdogs are drafting ways to attempt in the next Congress to curb big-dollar presidential campaign bundlers without discouraging the wave of small-dollar contributions flowing in through the Internet.
This movement comes after Barack Obama ’s record-shattering fundraising for president — made more urgent after he raised more than $150 million in September alone — which has sparked concerns that the public-financing system is broken; Fixing it could take a major overhaul.
The Illinois Democrat’s campaign already had reported 324 contributors bundling at least $100,000, including 47 who raised at least $500,000. By comparison, Arizona Republican candidate John McCain had 301 bundlers of $100,000, including 65 of at least $500,000, according to Democracy 21.
“When it comes to who will get the ear of an Obama administration, and who will get the governmental appointments and ambassadorships, it will be the small handful of big contributors,” said Craig Holman, lobbyist for Public Citizen. “These are the people to whom the campaign will feel most beholden.”
Among the options under consideration by these groups, along with Common Cause and the Campaign Legal Center, is to reduce contribution limits, boost public financing and offer incentives for both. A framework is from Sen. Russ Feingold , D-Wis., that languished in this Congress — and was cosponsored by OBAMA.