Slate Pokes Around in Obama's Books

From slate.com

"Let's start with the big picture: net worth. According to Obama's most recent public financial statements, he and his wife, Michelle, were worth between $500,000 and $2 million at the end of 2005 (excluding whatever equity they have in their $1.65 million Chicago house).

The bulk of this wealth came from $1.2 million in royalties Obama received that year for The Audacity of Hope and a previously published book (part of a $1.9 million, three-book deal). The $1.2 million figure is presumably pretax, which means that, after paying the IRS, Obama probably kept about $600,000." (more)

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)
  

Senator Obama Jumps On Gravy Train

Barack Obama follows the lead of his main rivals and says goodbye to the chump change of public campaign financing and helloooooo to the big bucks of private donations...or does he?

From NewsMax.com

"Following the lead of his chief rivals, Sen. Barack Obama will not accept public campaign financing for either the Democratic presidential primaries or the general election if he's the nominee.

The Illinois senator has decided to forego the public funds, said an official close to the Obama campaign, who spoke on condition of anonymity. The move allows him to raise and spend unlimited private money.

From AP via CNN:

"Democratic Sen. Barack Obama is asking whether he can take money from donors who want him to be president, then give it back later.

The Federal Election Commission said Wednesday that it will look into the novel question.

Obama is indicating that he wants to at least keep the option of using the public financing system for his presidential campaign if he becomes the Democratic nominee. To do so, the Illinois senator could not spend any money from contributors for political purposes, but instead use federal funding that is expected to total about $85 million for next year's general election.

"Senator Obama has long been a proponent of public financing of campaigns, and we are asking the FEC to take a step that could preserve the public financing option for the party's nominees," Obama spokesman Bill Burton said."

Obama, Clinton, Edwards...The Streisand Split

Soros, Susman, and Smoot...Seen This?

Obama's finance team has it's work cut out for it.
AP (via MSNBC) reveals what some of the Democrats eying the White House in '08 had on hand in their Senate accounts. (No word yet on what's in their 'I'm running for president" accounts.)

On top...Hillary Clinton with 11 million dollars.

"The $11 million in her Senate account gives her a clear advantage over her Democratic rivals. Illinois Sen. Barack Obama had about $500,000 in his account, Sen. Chris Dodd of Connecticut had some $5 million that he could transfer and Sen. Joe Biden of Delaware had about $3 million."

Barack-star Appeal

Again from the Washington Post...

Another Money Man for Team Obama

Louis Susman, seen here in the Chicago Tribune when he was raising nearly a quarter billion dollars for the Kerry campaign in '04, is now on board the Obama train.

From the Chicago Sun Times:

"If you want to be president of the United States, he is the one you want to call before you even talk it over with your own mother. Louis Susman is his name. He lives in Chicago. And at this moment, he is ready to do whatever Illinois Sen. Barack Obama needs him to do to take the White House in 2008. If Obama is running (and he is), then Susman will be pivotal to raising the cash...
How much money did Susman raise for Kerry? A bundle: $247 million. A vacuum cleaner was how someone once described him for a 2005 Tribune article, saying Susman was able to ''Hoover'' money from ''deep pockets.''