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