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Bundling Hits Its Stride

Donation gathering accounts for ¼ of money, is ‘chief source’ of campaign abuse

By Jonas Oransky, Newser Staff

Posted Oct 18, 2007 12:38 PM CDT

(Newser) – Bundlers have become the stars of 2008 campaign fundraising, the accounting for one-quarter of all money raised in the presidential race—up from 8% in 2000. Donors sought new inroads when soft money was restricted, and the gathering of donations has become “the chief source of abuse,” says Wall Street Journal's look at bundling’s rise and its inherent risk of fraud.

The number of bundlers doubled this cycle, and candidates see the writing on the wall—offering access and prestige to those who can convince others to give. And givers are cutting corners: Several stand accused of illegally reimbursing others for donations. But abuse might be constitutional to campaigns, the Journal notes, as “well-intentioned” reform just serves to open new unethical doors.

Private equity investor Carl Icahn is a bundler for Rudy Giuliani (Associated Press)

Norman Hsu is escorted into a Redwood City, Calif., courtroom, Friday, Sept. 21, 2007. Jilted investors who sunk $63 million into Hsu's alleged Ponzi schemes are competing for whatever financial crumbs... (Associated Press)

Norman Hsu, right, prepares to surrender as he arrives with spokesman Jason Booth, center, and attorney Somnath Raj Chatterjee, left, at a San Mateo County Superior Court in Redwood City, Calif., in this... (Associated Press)

Director Steven Spielberg is a bundler for Hillary Clinton (Associated Press)

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Bundling Hits Its Stride

Donation gathering accounts for ¼ of money, is ‘chief source’ of campaign abuse

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Rudy Giuliani • Steven Spielberg • campaign finance • Carl Icahn • abuse • Norman Hsu • bundlers

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Show Us Your Money, Romney

'Washington Post' takes frontrunner to task for keeping taxes, donors secret

Fatcat Obama Bundlers Score Gov't Jobs, Contracts

About 80% of those who gave $500k or more now in administration

Clinton Donors Caught Up in Criminal Cases

Four cases, six defendants, $1.1M in contributions

Hsu Guilty of Squeezing Donors for Campaign Cash

Big Hillary fundraiser faces up to 20 years

Virginians Pour Record Dollars Into Election

State's newfound battleground status sparks funding fervor

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Bundling Hits Its Stride

Donation gathering accounts for ¼ of money, is ‘chief source’ of campaign abuse

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OTHER STORIES ON OUR RADAR

Rudy Giuliani • Steven Spielberg • campaign finance • Carl Icahn • abuse • Norman Hsu • bundlers

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Show Us Your Money, Romney

'Washington Post' takes frontrunner to task for keeping taxes, donors secret

Fatcat Obama Bundlers Score Gov't Jobs, Contracts

About 80% of those who gave $500k or more now in administration

Clinton Donors Caught Up in Criminal Cases

Four cases, six defendants, $1.1M in contributions

Hsu Guilty of Squeezing Donors for Campaign Cash

Big Hillary fundraiser faces up to 20 years

Virginians Pour Record Dollars Into Election

State's newfound battleground status sparks funding fervor

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?