THEY call us the fathers of soft money,'' Bob Farmer says, and he's not preening.
Neither is Bob Mosbacher, the other hangdog dad.
In 1988, Mr. Farmer, the top money man for Michael Dukakis and the Democratic Party, and Mr. Mosbacher, finance chairman for George Bush and the Republicans, were the kings of campaign fund-raising. More than that, they earned a place in political history by starting the first national programs to raise soft money, the large, unrestricted gifts to the two parties by wealthy individuals, corporations and labor unions.
Both of them have lived to feel some regret over their fiscal ingenuity (though not, it must be said, the victories it contributed to). Today, Mr. Farmer says it's high time Washington passed campaign finance reform legislation. ''Obviously, money in politics is totally out of control,'' he says. Mr. Mosbacher agrees that ''it's gotten totally out of hand.''
And it's about to get worse, predicts Jeffrey Birnbaum, author of ''The Money Men'' (Crown Books), a forthcoming book about political fund-raising. ''There will be far more soft money than ever before,'' he says. Experts on campaign finance agree, some estimating that during the 2000 elections the two parties could collect as much as $500 million in soft money contributions. That's up from $262 million four years ago, when there were widespread fund-raising abuses.
Mr. Birnbaum says that the Clinton-Gore money team has taken soft money to a new level. ''At one time in the Democratic Party, it was time to celebrate if they got a $50,000 check,'' he says. ''Now a host of wealthy Democrats are expected to fork over $100,000 or more every year.'' The Republicans, Mr. Birnbaum adds, ''are hungry for victory, having been out of the White House for eight long years.'' More than 50 wealthy Republicans have joined the Regents, which costs them $250,000 apiece.
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When he learned about the Democrats' program, Mr. Mosbacher says, he worried about being outpaced, so he promptly copied their idea, calling the Republican version Team 100. Mr. Mosbacher says Vice President George Bush didn't like the idea. ''He moaned and groaned,'' Mr. Mosbacher recalls. ''He foresaw it as something that would be perceived as someone getting clout for making a big contribution.'' But he went along with Mr. Mosbacher's argument that the Republicans would be ''left in the lurch'' if they left the soft money field to Mr. Farmer. That year, Mr. Farmer recruited 130 Democratic Trustees, while Mr. Mosbacher drew 267 members to Team 100.
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