Big 'Bundlers' Help Fuel Both Campaigns

New type of fundraising is quickly becoming lucrative cash stream
By Matt Cantor,  Newser User
Posted Aug 8, 2008 11:54 AM CDT
Sen. John McCain addresses a town hall meeting, Thursday, Aug. 7, 2008, at the Veterans Memorial Civic and Convention Center in Lima, Ohio.    (AP Photo/Skip Peterson)
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(Newser) – Barack Obama and John McCain have racked up nearly 100 “bundler” donors between them who have gathered at least $500,000 each from friends and co-workers to support their chosen candidates, the Wall Street Journal reports. The candidates’ spending suggests the fundraisers are breaking bundling records set during the campaigns of President Bush, the first candidate to reap big benefits from the system.

Obama’s bundlers include entertainment giants David Geffen and Jeffrey Katzenberg as well as Washington stalwarts, while McCain’s include New York Jets owner Robert Wood Johnson and former commerce secretary Robert Mosbacher. The Obama camp has lately focused on large pay-to-enter fundraising events, while McCain this week returned donations from a bundler whose backers “had no intention of supporting John McCain,” said a McCain spokesman.