Clinton Backers Brace for Money Challenges

Senator Clinton's backers are bracing for the challenge of fund raising for her presidential campaign, even as they insist that she already has enough money on hand to battle through upcoming primaries — at least until the so-called Super Tuesday contests next month.

"The stories that I've read indicating we've run out of money, that we not only have no ability to raise money, but not even enough to continue through February 5, are patently wrong and absurd," a Manhattan financier and top fund-raiser for Mrs. Clinton, Hassan Nemazee, told The New York Sun yesterday. "We have significant money in the bank, and we have bought ad time going through to all of the February 5 states."

Asked if Mrs. Clinton's third-place finish in Iowa and expected loss in New Hampshire would make fund raising more difficult, Mr. Nemazee said, "Sure. I live in the real world. I don't live in a fantasy world. She lost Iowa and obviously is going to be challenged tonight to do well. Obama has the wind at his back. … She's got the wind in her face at the moment." A spokesman for the Clinton campaign did not respond to a request for numbers detailing its financial situation. However, Mr. Nemazee said a wave of donations came in after Mrs. Clinton's Iowa loss. "I've been pleasantly surprised," he said. "These are primarily people saying the more difficulty she has, the more she needs resources to be able to compete in all the states that will be contested on February 5. This process is far from over. … She will not lose because of not having enough money."

Fund-raisers for Mr. Obama described a very different surge: one comprised of former financial supporters of Mrs. Clinton looking to get on board with the Illinois senator. "Given the willingness of the Hillary donors to hedge themselves, you'd think every one of them ran a hedge fund," one New York fund-raiser for Mr. Obama said, speaking on condition of anonymity. "People are burning up the phones saying, 'This is where I always wanted to be. You know I had to be there.'" Mr. Obama's camp declined to identify any specific donors who had crossed over. "For people who are respected and have been involved in the process, there is a certain etiquette," another Obama money-raiser said. "Nobody is going to do anything overtly damaging to a candidate who is still competing. Whether they'll do anything positive and raise another cent, that's a different question." One particular challenge for Mrs. Clinton will be finding donors who have not already made the maximum $2,300 donation to her for the primary. Mr. Nemazee said there were "a lot of people who have not maxed out," but Mr. Obama's supporters said they doubted small-dollar donors could be persuaded to fund a faltering campaign.