Breaking Down The Money Race

By: Sharyl Attkisson
Topics: Follow The Money

(CBS)

Sharyl Attkisson is an investigative correspondent for CBS News.

Fake occupations like "lover"? Non-existent zip codes like "00000"? Imaginary people like "Doodad Pro"? Neither campaign appears to corner the market on odd entries from the donor files.

But with Obama receiving many more individual donations, a stunningly larger total (Obama's got more than $603 million to McCain's $358 million), and -depending who you ask - an impressive (or suspicious) month of record fundraising in September, some are trying to take a closer look at Obama's stats.

"He's been taking in a lot of money very rapidly," says Sheila Krumholz who heads up the Center for Responsive Politics. She says both campaigns need to do a better job at disclosure, but Obama stands alone in terms of sheer volume. "It's a concern that he's brought in so much money so rapidly because there have already been suspicions voiced about foreign donors, fake donors and donors giving excessive amounts of money."

Obama also has many small donors among his list of more than 600,000 "new" donors who gave last month, according to the campaign. Less than $200 each, under federal law, the campaign doesn't have to disclose names or details. John McCain has voluntarily put his small donor list online. McCain's list is far from perfect: in the past, donors have been listed as "anonymous," but it's more than Obama has been willing to do. CBS News asked the Obama campaign to show his list of less-than-$200 donors, but they refused.

"The fact that the obama camp has not provided more info about who these small donors are really runs counter to his transparency message," says Krumholz.

What about the big money donors? Both campaigns boast of many, but when it comes to the interests of those Wall Street firms caught up in the economic crisis, Obama often bests McCain.

Goldman Sachs interests:
Obama $743,371
McCain $220,045

Lehman Brothers interests:
Obama $391,624
McCain $115,707

Citigroup interests:
Obama $499,598
McCain $290,101

Morgan Stanley interests:
Obama $344,130
McCain $249,377

JPMorgan & Chase Co. interests:
Obama $478,462
McCain $210,992

For more on who's "bundling" for the candidates, which industries are top givers and all kinds of interesting campaign fundraising tidbits, visit the Center for Responsive Politics' site OpenSecrets.org.

Sharyl Attkisson
Sharyl Attkisson is a CBS News investigative correspondent based in Washington. All of her stories, videos and blogs are available here.
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by wallydawg6 October 29, 2008 6:22 PM EDT: Obama takes no personal responsibility for anything he has done or anyone he knows. Obama has shut down the front-end screening on donations on his web site. You can live in a foreign country or be a cartoon character. They just use those throw away credit cards. Obama is more of the same. Just another corrupt politlicians. Oh and you want to talk about Palins clothes look at Obama $1000.00 custom made suits. Give me a break!!!!; Reply to this comment


by jmedis October 29, 2008 3:00 AM EDT: Congratulations on the Breaking Down The Money Race article. Would have been even more apporopriate if it had been published much earlier and then updated. As you point out, Sen. Obama claims most of his money comes from small donors and it turns out most of that is from donors that contributed less than $200 so they don''t have to be identified. If Sen. Obama is truly getting that kind of support from legitimate small donors one would think he would be very proud of that and showing that list to anyone who would look at it. Looks to me that Sen. Obama has raised more funds than all his opponents put together in both primary and general elections? Is this someone who truly understands middle America?; Reply to this comment


by arodd52 October 28, 2008 10:35 PM EDT: Thank you FINALLY for showing BOTH sides...I "did" lose hope! Considering Sen. Obama has collected this excessive amount of money, perhaps he might consider making donations to help some of America''s very poor citizens. I know I would see him in a brighter light!; Reply to this comment


by bill517 October 28, 2008 7:26 PM EDT: Why are they doing it???; Reply to this comment


by jmelt_wp October 28, 2008 7:21 PM EDT: I did not read in total the article, but it finally seems that someone is revealing some truth from the CBS perspective. Whenever Katie Couric writes an article concerning the money spent on Sarah Palin''s family''s clothes, where does she write about Obama and his enormous amount of money collected and spent? It seems a bit one-sided, Ms. Couric!!! Where do you buy your clothes? Are you willing to explain that? I doubt it. But keep in mind that in your "lofty" position that you are highly overpaid and can afford to pay the price!! When Obama starts "spreading the wealth", I believe that you can make a great contribution.; Reply to this comment


by dradzone October 28, 2008 5:40 PM EDT: Obama''s campaign engaged in the most blatant example of corruption in recent American politics by the illicit cross-endorsement on the night of the PA primary for/with the troubled retail firm Abercrombie & Fitch, resulting in people [as are a large number of his earliest supporters] affiliated with groups having over one and a half billion dollars'' worth of interest in that chain getting it free advertising worth over $32 million dollars. A chain which, mind you, was fined after being found guilty of racist and sexist hiring and firing practices, boycotted by young girls'' groups for crude merchandise and neo-kiddie-porn children''s underwear, etc.

I sent a more detailed explanation of this including some names of individuals and firms to the investigates email in case anyone @ CBS wants to look at it.
I had also sent a notarized the FEC a complaint at the time. Twice actually, as the first time they rejected it as the notarial seal was worded a tad differently in PA where I now reside. By the time the seocnd sending reached them he was confirmed as the official candidate.

BTW I am a democrat[ran 4 Dem US senate nomination in 2000 primary in OH in the Dem race, and just participated in a humorous attack ad sequence for an embattled Dem in my current state] and formerly thought he [Sen. Obama]would be a good choice[he was my 3rd choice, prior personal committments to HRC and DK intervened] at the beginning of the primary season. I just cannot believe so any more.; Reply to this comment


by juleelynn-2009 October 28, 2008 3:46 PM EDT: Thank you CBS. Finally a fair and unbiased story regarding this election. I had lost hope.; Reply to this comment


by juleelynn-2009 October 28, 2008 3:45 PM EDT: Thank you CBS. Finally a fair and unbiased story regarding this election. I had lost hope.; Reply to this comment


by phoenixandy October 28, 2008 3:44 PM EDT: joegreen1999, were you asleep for the last 14 years? The Republicans controlled Congress from 1994 to 2006.; Reply to this comment


by joegreen1999 October 28, 2008 2:42 PM EDT: phoenixandy - your comment baffles me. The democraps have controlled congress for the last 6 years. Do you really think that a single bill or law has been passed without their support? All this talk about how the Republicans created the mess were in right now, and yet who is passing the budgets, bills, and laws that got us here?????; Reply to this comment