Wednesday, April 18, 2007

New York Is Still Where The Money Is At

California is touted as a state that is flush with cash for political candidates, but New York takes the cake when you consider who got what and how much. New York City accounted for 10 percent of all political donations in the first quarter($12 million). L.A., the Bay Area and even D.C. combined fell short of New York with $7 million. Out of that amount, Hillary acquired $4 million and Giuliani came in 2nd at $2 million.

A lot of that cash comes from Wall Street and the employees that work at the big firms. Candidates have touted their people-power potential, such as Hillary with 50,000 donors and Obama counting 100,000 individuals. Despite the large array of contributors, the real money still comes from large donors. So while the candidates and their spokespeople talk about a large crowd of support, the fundraisers still know where to go when they want gobs of cash.