Obama to meet with "Hillraisers"

[DeepModem Mom]

WSJ: Obama to Woo 'Hillraisers' at Mayflower
By CHRISTOPHER COOPER
June 23, 2008; Page A2

Last week, Barack Obama justified his decision to forgo public financing for the general election and the spending limits it imposes by noting the legions of common citizens who have donated small amounts of money to bankroll his presidential run. That, he said, satisfies the spirit of campaign-finance overhaul, if not the letter. This week, the Democratic senator from Illinois will return to the reality of running a costly campaign by meeting with a new group of influential and well-heeled donors.

The presumptive nominee will arrive in Washington Thursday for a powwow with the "Hillraisers," the cadre of top-producing fund-raisers who propped up Hillary Clinton's run for the White House. The New York senator managed to amass some $200 million for her failed bid; much of that money came courtesy of a few hundred "bundlers" -- fund-raisers who persuaded wealthy friends and associates to put up a federally imposed maximum of $4,600 for her candidacy.

Both senators will attend the meeting, set at the swank Mayflower Hotel. People who plan to go say it will serve two purposes: to lock down support for Sen. Obama and to hammer out a pledge from his campaign to help Sen. Clinton retire some of her own campaign debt. The Clinton camp reported a $22.5 million debt at the end of May, more than half of which was a personal loan from the senator to fund her presidential run. (NOTE: According to an article previously posted, Senator Clinton has told fundraisers that she considers her personal loan to the campaign an "investment," and does not expect to be paid back.)

Sen. Obama can probably expect a somewhat chillier reception from the Hillraisers than the one he has received from the hundreds of thousands of "small donors" his campaign says have contributed to his cause, helping to raise some $287 million since his campaign began. Some Hillraisers remain miffed at the harsh rhetoric that developed over the bruising primary season and are upset that Sen. Obama seems uninterested in inviting Sen. Clinton to be his running mate. Obama finance officials say this should come as no surprise; the wounds, they say, are still fresh. "She only gave her concession speech a week and a half ago," said Kirk Wagar, Sen. Obama's Florida finance chairman.

Bruised feelings or not, the Mayflower event should deliver between $500,000 and $1 million for Sen. Obama. One Hillraiser said most attendees will arrive with $2,300 checks, the maximum they can give for the general election....

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Hillraisers say they have been privately assured by Obama finance officials that the senator himself will ask his maxed-out donors to help pay Sen. Clinton's bills, though many believe that effort will be a drop in the debt bucket, netting her only $300,000 or so.

http://online.wsj.com/article/SB121418125189595651.html