6/5 News

Obama takes control of DNC fundraising

Barack Obama has been the presumptive Democratic nominee for two days but is already changing the party from within. He has instructed the committee to accept his proposal of denying funds from PACs and lobbyists, among growing insider concern about the DNC’s lackluster fundraising. The move not only unifies Obama’s policy with the party but stabs at McCain’s lobbyist ties.

The Republican National Committee has raised twice as the DNC’s 77.6 million this year, and has ten times more than the DNC’s 4.4 million on-hand cash. Leaders hope Obama’s fundraising knack will translate for more funds for the Convention in August.

News Observer

Obama prepared to help Clinton with debt

Barack Obama and second-place finisher Hillary Clinton appear to be reconciling after a bloody 16-month primary season. An Obama campaign advisor says Obama will help Clinton pay back the $20 million dollar campaign debt, including 11.4 million she owes herself.

According to the 2002 McCain-Feingold campaign finance law, Clinton must pay the loan back by the Democratic Convention or she’ll only be able to repay a fraction. Though Obama can’t directly donate from his fund experts predict they will both reach out to Obama’s maxed out donors.

Bloomberg news

Clinton to end her bid

At the same time, a Clinton campaign issued a statement last night announcing that Hillary will voice her support for Obama and end her bid on Saturday. Aides say she originally wanted to wait but by Thursday had been convinced to back down.

“Senator Clinton will be hosting an event in Washington, D.C., to thank her supporters and express her support for Senator Obama and party unity,” said a chief strategist.

The tide turned as Obama declared himself the nominee Tuesday night and soon created a three person vice-president selection group, including longtime supporter Caroline Kennedy. Many Clinton supporters like former Vice President Walter Mondale expressed support for Obama after Tuesdays primaries, which may have prompted her exit.

NY Times