Big G.O.P. Donors Adopt Wait-and-See 2012 Tack

by
May 8, 2011

By JIM RUTENBERG and JEFF ZELENY, The New York Times

The vaunted Republican network of high-dollar donors and fund-raisers, for so long a fear factor for Democrats, has been slow to commit itself to the 2012 presidential candidates, contributing to the faltering start of the party’s drive to unseat President Obama.

So far, only former Gov. Mitt Romney of Massachusetts has assembled a strong bench of the top Republican financiers. Scores of other fund-raisers remain unaligned, waiting with their money — and contact lists — in their pockets as prospective candidates bombard them with phone calls, e-mails and in-person visits around the nation.

“It’s not at the top of the agenda for most folks right now,” said Brian Ballard, the Florida finance chairman for Senator John McCain’s 2008 presidential bid, who has heard from all of the potential hopefuls this year but, like many of his associates, has yet to choose a 2012 candidate.

A result is the chicken-egg dynamic that is delaying the party’s urgent need to begin raising money to defeat an incumbent president whose fund-raising goals are as high as $1 billion. Potential candidates have been slow to get into the race without the assurance that they can raise the money necessary for a credible campaign, while donors are waiting to see how the field develops before making decisions.

Many prospective candidates “want to have more tangible evidence that the support will be there if they start out,” said Al Cardenas, a former Florida Republican Party chairman who now leads the American Conservative Union. “Then there are the donors who don’t yet have a candidate — they’re being more cautious to say, ‘You know what, I’m waiting it out to see what the whole field looks like.’ ”

The early stages of any presidential campaign involve an intense competition, waged largely out of public view, for the allegiance of a core group of fund-raisers — the “bundlers” who pledge to raise hundreds of thousands of dollars on a candidate’s behalf from business associates, political allies, friends and neighbors. Under President George W. Bush, the Republicans built a network of hundreds of well-connected and energetic bundlers, a good portion of whom went on to help Mr. McCain in 2008.

Mr. Romney has won the support of some of the highest profile Republican bundlers. They include Mel Sembler, a Florida developer; Wayne Berman, a Washington lobbyist; and Lewis M. Eisenberg, a New York financier who said Mr. Romney was winning over donors by emphasizing that his focus would be “spurring the economy, creating jobs and tackling the deficit.”

To read more, visit:  http://www.nytimes.com/2011/05/08/us/politics/08repubs.html?_r=1&hpw

1 Comment - what are your thoughts?

  • zucccchini says:

    And to assure the ‘beat goes on’ for the RHINOs, the big money people sit back and wait on their RHINO to throw in their hat…Gingrich, Romney, blah, blah, blah.. Same ole, same ole. Term limits….we need term limits. Limits on lobbying money, …some way to control the financiers from running the show on both sides.

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