Radio Workshop

All The President's Bills (Transcript)

by Ethan Lindsey

NARRATION:

The latest CNN-Gallup poll shows Gephardt leading the field of Democrats with 20 percent of registered Democrats' votes. Senator John Kerry is a close second but is within the poll's margin of error. Seven other candidates have at least 5 percent support in the poll and are already out on the campaign trail, and assembling campaign staffs. Why the rushed timeframe? It's simple: Money.

ACTUALITY:

In the beginning of any campaign, the main focus is clearly on raising money, and getting people interested and involved in the campaign.

NARRATION:

The co-chairman of Congressman Richard Gephardt's campaign fundraising is Gregg Hymowitz. He is the guy Gephardt relies on to reach out and find the money needed to run for president, especially in the early-going.

ACTUALITY:

Basically you are speaking to Democrats. You are raising money for the primary, so you are speaking to somewhat a captured audience. The issue is going to be in the early going how the Democratic donors and fundraisers separate among the many primary candidates.

NARRATION:

A major Democratic fundraiser and the financial pointman for Senator Charles Schumer, Hymowitz just passed his first big test for this election. March thirty-first was the initial deadline for candidates to release their fundraising totals thus far. Hymowitz and Gephardt finished with $4 million in the bank -- a respectable third, behind Senators John Kerry and John Edwards. At this same point four years ago, a then-lightweight Republican Governor from Texas jumped from an afterthought to the frontrunner when he revealed a $30 million war chest. It was his focus on fundraising that many pundits credit for propelling President George W. Bush to the White House. Luckily for Gephardt, this year there was no such runaway winner. The relative equality leaves four or more viable candidates after the filing period.

ACTUALITY:

I think that is more relevant to see if there is anyone who is not raising money. I mean, whether you are first, second, or third, I don't think its as big a deal. But if you are fifth, or sixth, then I think people start saying, this person can't raise the money.

NARRATION:

Hymowitz is especially important to Gephardt's campaign because of his New York connections. In the world of democratic campaign fundraising, New York is xanadu: deep-pocketed, liberal investment bankers and lawyers willing to shell out loads of money to get in with the candidates. University of Virginia political science professor Larry Sabato says that in order for a Democrat to really gain a foothold, he must capture a bunch of money in New York and California.

ACTUALITY:

For any candidate, the number one source of money is actually the home state, then when you get out of the home state you look to the money centers, and the money centers generally are on the coasts and mainly they are the New York area and Los Angeles

NARRATION:

In fact, in Gephardt's campaign, it wasn't enough just to have Hymowitz stationed in New York. Because of new limits on campaign donations, Gephardt wanted even more traction in the Northeast and New York specifically, so his campaign established the New York Leadership Council. Martin Nussbaum, an attorney, is one of the founding members of this group.

ACTUALITY:

The Leadership Council is a group of people who are spearheading the support for Dick Gephardt in New York State -- New York City in particular -- to assist both with fundraising and to assist with issues of policy.

NARRATION:

Nussbaum says he spends his time calling up people he believes will contribute and then trying to get them to meet Dick Gephardt, and then give his campaign $2,000. The group serves as an alternative to the soft money slush funds banned by the McCain-Feingold campaign finance reform law. As part of the broader network of fundraisers, Nussbaum doesn't work directly with Hymowitz, Gephardt's chief moneyraiser, but both say the new laws make their jobs harder than ever before.

ACTUALITY:

It does change things quite dramatically, in the sense that it levels the playing field among the donors. The folks who used to be able to write the very large check are less relevant now, because they can't write the big check.

NARRATION:

Hymowitz's task is just beginning. He will keep pushing for money as candidates drop out of the race rolling into the New Hampshire primary in January. Following that, the candidates head into the Democratic convention hoping to pick up the money in a shrunken field. And if Gephardt captures the Democratic nomination? He goes right back to the money chase, because now he has to raise even more money, this time to compete with George W. Bush, who we already know can raise piles of cash. This is Ethan Lindsey for Columbia Radio News.