WASHINGTON — Despite criticism of Fannie Mae by Republican presidential candidate Mitt Romney, his campaign accepted nearly $280,000 in donations raised by a registered lobbyist who once represented the government mortgage giant and whose clients now include a private equity firm and the drug company Pfizer.
Yet Romney has not identified all of his so-called fundraising "bundlers" who have raised hundreds of thousands of dollars, even after President Barack Obama's re-election campaign released the names of his top fundraisers. Rick Santorum and Newt Gingrich also haven't disclosed their bundlers. Ron Paul's campaign has said it doesn't use them. For more than a decade, since the election of George W. Bush in 2000, presidential campaigns have identified their bundlers.
In an age of "super" political action committees, which can pull in millions of dollars from anonymous donors, bundlers still matter to modern presidential campaigns. Like Wayne Berman, the chairman of Ogilvy Government Relations who gathered $279,075 for Romney in 2011, these are well-connected executives who collect or direct multiple individual contributions of up to $2,500 to a campaign in amounts that can range from $50,000 to more than $500,000.
The lack of disclosure prevents voters from knowing who wields influence within a presidential campaign. Keeping their identities secret could end up stinging Romney — like the mishandled release of his income tax returns — if voters conclude he is withholding politically damaging information.
Federal law requires only that candidates disclose the identities of bundlers who also are registered lobbyists, which the Romney campaign has done. Berman and 15 other lobbyists representing a wide range of interests raised nearly $2.2 million for Romney in 2011, according to Federal Election Commission records. Their clients included investment firms and a mortgage processing company accused of "robo-signing" foreclosure documents.
But just as disclosing income tax statements is commonplace for leading presidential candidates, voluntarily identifying bundlers has also become standard practice.
A corporate executive or a Wall Street broker who acts as a bundler can wield just as much influence as a lobbyist. "Bundlers pose a very similar threat of corruption of candidates and office holders just as unlimited contributions would if made directly to the candidate or office holder," said Paul Ryan, associate legal counsel at the nonprofit Campaign Legal Center.
Ryan said the rise of super PACs, which can't lawfully coordinate their spending with a candidate's campaign, haven't diluted the importance of bundlers. "At the end of the day, candidates want money in their own campaign accounts because they have full control over how it is spent," he said.
A Romney campaign spokeswoman did not respond to an email from The Associated Press asking when, or if, Romney intends to identify his bundlers.
Obama's re-election campaign on Jan. 31 released the names of more than 440 bundlers who collected close to $75 million in 2011, including 61 people who each raised at least $500,000. The Obama campaign said it does not accept contributions from lobbyists. But the list includes people involved in the business of influencing government.
Michael Kempner, for example, is president and chief executive officer of MWW Group, a public relations firm with a large lobbying business. Kempner, who raised more than $500,000 for Obama's reelection bid, is not himself a registered lobbyist.
Also on Obama's list are two fundraisers linked to Solyndra LLC, the California solar company that received a $528 million Energy Department loan and then later went bankrupt, prompting a federal investigation. Obama's re-election campaign also received about $200,000 in contributions bundled by family members of a Mexican casino owner who fled the U.S. after facing drug and fraud charges. The Obama campaign said it has returned the money.
- Wyoming ranked third in US in percentage of...
- Test anxiety: How cold feet are ruining your...
- Hometown pastor says community stands by...
- Sen. Harry Reid's retirement recalls his...
- 'A marvellous work and a wonder': A look back...
- Drownings along Rio Grande spike after...
- O'Malley: Presidency 'not some crown'...
- Hundreds rally against Indiana law, say it's...
- Student loan recipients on 'strike'... 83
- Rep. Trey Gowdy: Hillary Clinton wiped... 49
- Sen. Harry Reid's retirement recalls... 40
- Indiana lawmakers try to quiet... 37
- Senate's Harry Reid announces he won't... 34
- Hundreds rally against Indiana law, say... 26
- Delete, erase, shred: The enemies of... 15
- O'Malley: Presidency 'not some crown'... 13