Hedge funds have been more active than ever in politics this 2008 presidential campaign season. And with the Democratic nomination up for grabs, candidates are spending record amounts of cash. Fundraising is likewise at record levels, helped in no small part by a smattering of hedge fund executives known in Washington as "bundlers."
Individuals can donate only $2,300 per candidate in both the primary and national campaigns, so bundlers help jack up the numbers by pulling in friends, colleagues and business associates to give more.
To date, Barack Obama has more bundlers, including hedge fund-related individuals, who have raised more money than those of his Democratic opponent Hillary Clinton. Obama has 361 bundlers and has raised $193 million, while Clinton has 322 bundlers and has raised $153 million, according to federal election records compiled by consumer advocacy group Public Citizen.
Obama counts eight 'hedgies' among his fundraisers (including one...