Sweet Follows the Money

From the Chicago Sun-Times Lynn Sweet:
"The Obama campaign prefers the emphasis be on the army of small donors who are giving -- and raising -- money for Obama. In truth, though, there are two parallel narratives -- and the other is that Obama is also heavily reliant on wealthy and well-connected Democrats.

While Obama took money from federal lobbyists and political action committees for his Senate war chests, he is not for his presidential campaign. That ban does not preclude non-lobbyists who have interests in federal matters or who lobby other government entities.

Those at the top of the Obama fund-raising pyramid -- people who pledge to raise at least $250,000 -- get a gold VIP lapel pin with the letters "NFC" fashioned in the campaign's logo.

The letters stand for Obama's National Finance Committee, and the group met in Washington on Wednesday for a retreat at a hotel with the Obama professional fund-raisers, campaign manager David Plouffe and chief strategist David Axelrod, among others. After raising $25 million in the first quarter -- creating a national network almost from scratch -- their challenge in the second quarter is to show they were not just grabbing the low-hanging fruit."

Obama Answers Questions About Finances

From the NTY

Less than two months after ascending to the United States Senate, Barack Obama bought more than $50,000 worth of stock in two speculative companies whose major investors included some of his biggest political donors.

One of the companies was a biotech concern that was starting to develop a drug to treat avian flu. In March 2005, two weeks after buying about $5,000 of its shares, Mr. Obama took the lead in a legislative push for more federal spending to battle the disease.

The Senator responded that:
"...he retained a broker upon the recommendation of a wealthy friend and top contributor, George W. Haywood. The senator said he did not specifically instruct the broker to follow the investment patterns of Mr. Haywood, who along with his wife, Cheryl, has contributed nearly $50,000 to his campaigns and political action committee.

“What I wanted to make sure was that I didn’t want to invest in companies that would potentially bring conflicts with my work here or not abide by some public statements I’ve said in terms of how things work,” Mr. Obama said. “Obviously, the thing didn’t work the way that I wanted it to, which is why we ended up discontinuing it.”

But, he added: “It wouldn’t be surprising to me that he was recommending stocks similar to me that he would be recommending to others.”

Campaign Finance Victory for Obama

From The Hill

• Obama Ruling Could Prove Moot, Backfire (The Politico)
• Obama, McCain Say They Would Agree to Public Campaign Financing (Bloomberg)
  

Team Obama Taking Shape

So says the Chicago Tribune. The Trib lists
David Axelrod as the senator's right hand man.

Recently the long time political strategist was advising the new Governor of New York. Axelrod also spent time in John Edwards' camp in 2004. (Meanwhile, it seems his son was busy getting into court side fights with NBA players' wives. But I digress.)

There's also Axelrod's business partner David Plouffe who is listed as likely campaign manager.

Julianna Smoot, fund raiser extraordinaire and another veteran of Edwards '04 will reportedly be finance director.

Pollster Paul Harstad (left) seen below in a picture from his firm's website with Sen. Obama and Senator Ken Salazar...has apparently been tapped to reprise his '04 role.


And of course there's Michelle Obama... America's Next First Lady?