Saturday, January 5, 2008

Iowa Victories Scramble the Money Game, Too

http://www.nytimes.com/2008/01/06/us/politics/06donate.html?_r=1&ref=politics&oref=slogin

The victories of both Barack Obama and Mike Huckabee in the Iowa Caucuses has increased the excitement of this monumental presidential race. These victories have also added an element to the money chase. One trend that is so evident in this race is that big money begins by backing their interests but also realizes the importance of backing a "winner". So we may see some shifting loyalties now that some candidates look a little more viable.

"In some cases, Democrats who supported Mrs. Clinton out of loyalty or conviction or because they felt she could win are now taking another look at Mr. Obama, Mr. Kramer said. Donors with enough resources can hedge their bets by giving the maximum $4,600 for the primary and general races to both Mr. Obama and Mrs. Clinton.

"The day after the New Hampshire primary, which is Tuesday, Mr. Obama will hold a Manhattan fund-raiser, with ticket prices ranging from $500 to $2,300. A big fund-raiser is scheduled for Los Angeles a few days later."

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