Sunday, July 13, 2008

The Obama Fundraising Question

A doubt has been assigned to Obama's fundraising operation.

If the sum of $200,000,000 is right,(*) and the average contribution was $15.00 (?), that would mean over 13 million individuals made contributions? That would also be 13 million contributions would need to be processed. At $100, that would be 2 million individual donations made.

How did all that happen? Is it possible? Feasible?

Are contributions coming in from abroad?

Obama campaign's Internet fund raising perhaps needs a serious, in depth
investigation and audit.

Source


But then this:

the text is riddled with errors and falsehoods. I found no record of anyone in the Obama campaign stating that the average individual contribution amounts to between $10 and $25 (in fact, the stated average is around $100). Nor have there been any public revelations (apart from the unsupported allegations in this anonymous email) to the effect that "security people" (whoever they might be) have raised alarms about contributions flowing into the campaign from overseas. Obama's website states that no donations are accepted from foreign nationals, and all online contributors are required to certify that they are U.S. citizens.


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News Items

1.

Barack Obama raised $55 million in February...[Hillary's] money came from 40,000 donors, including 30,000 new contributors, Clinton’s campaign said. Obama did not disclose a corresponding number.

...Democratic consultant Bill Carrick, who is not involved in the 2008 campaign, called Obama’s fundraising phenomenal...The Obama campaign said that of the $55 million, more than $54 million was earmarked for the primary campaign. That’s significant because it means that if he were to win the Democratic nomination, donors who provided the $54 million could give up to $2,300 each for the general election.

Obama received money from 727,972 donors in February, including 385,101 new contributors. To date, Obama has received donations from 1.07 million donors, far more than any other candidate.

2.

Mr. Obama shattered fund-raising records over the last year and a half and collected nearly $300 million, much of the attention has been on his army of small contributors over the Internet. He cited that broad base of small-dollar donors in justifying his decision to reverse his pledge to take part in the public financing system if his opponent did as well.

3.

The conference room belonged to George Soros, the billionaire bĂȘte noire of the right. After talking to Soros for an hour about his prospective bid for the White House, Obama walked down the hall and found assembled a dozen of the city’s heaviest-hitting Democratic fund-raisers: investment banker Hassan Nemazee, Wall Street power Blair Effron, private-equity hotshot Mark Gallogly, hedge-fund manager Orin Kramer.

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