Business Channel 2007-05-04&06
时间：2007-08-02 06:22:37
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In this presidential election, the big names are taking no prisoners in their quest for cash. And now Wall Street's big rollers are doling1 out the big bucks2 voting with money. Erin Burnett is Following the Money tonight.
The numbers for the first quarter's fundraising effort show a close race between Hillary Clinton and Barack Obama, Obama reporting 18.2 million in cold hard cash, Clinton, 24 million.
Money puts you in the top tier, it doesn't necessarily get you luck to keep you there.
So just where is all the money coming from? Certainly go to Wall Street first because that's where they are after communities of Democratic donors3, and they are used to giving. They have fundraising networks. We are heading into record numbers of, of campaign fundraising like we've never seen before. So it's going to be more than Wall Street. And particularly because Obama is from Chicago, you're gonna look for LaSalle Street is giving too.
Individual donors from some of the biggest Wall Street firms all adding up to millions for presidential candidates.
Goldman Sachs employees giving Senator Barack Obama 94, 000 dollars, followed by UBS at 81. And Senator Obama getting some help from former Clinton investors4, former FCC chairman Reed Hundt, Michale Froman and Brian Mathis of the Clinton Treasury5 Department and former Clinton White House lawyer Greg Craig.
Senator Clinton is relying heavily on the narrow base of tried and true wealthy donors, many of them Wall Street execs, Morgan Stanley employees giving 75, 000, Goldman 48, 000 dollars and Citi 45 grand. Clinton getting more than 5, 100 donors to give their legal limit of 2, 300 dollars. Nearly 3, 000 of those donors also contributed the max of 2, 300 dollars, to her general election fund.
What's going to happen is that because of Federal Campaign Finance Laws, they're, they're limited to how much they can give. That's why the, the point is to find new donors. What you are seeing here, I think to a degree, is grabbing the low-hanging fruit in the first quarter.
On the Money, Erin Burnett, CNBC.
NOTES:
1. tried-and-true
Tested and proved to be worthy6 or good.
2. LaSalle Street
LaSalle Street is a major north-south street in Chicago named for Sieur de La Salle, an early explorer of Chicago. The portion that runs through the Loop is considered to be Chicago's financial district.
3. take no prisoner
Extremely ardent7 or aggressive
4. Goladman Sachs
The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street.
5. FCC
Federal Communications Commission
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