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Hedging their bets

By Michael J. Smith on Thursday October 12, 2006 12:42 PM

According to the San Francisco Chronicle:
Business hedges bets by donating to Pelosi
Firms open wallets in case Democrats take back House

Traditionally Republican big business interests are hedging their electoral bets this year by increasing their campaign contributions to Democratic House leader Nancy Pelosi of San Francisco, whose party is given a healthy shot at taking House control in the Nov. 7 elections....

Pelosi's main campaign committee reported raising more than $1.2 million, including $730,025 from political action committees, for the 2006 election through June 30.... 54.2 percent of the PAC money -- more than $400,000 -- given to Pelosi in the first six months of 2006 came from businesses. That's up from $366,000 for the entire 2003-04 election cycle, her first as House minority leader, and $207,750 in 2001-02....

The increase is even more pronounced for the Democratic Congressional Campaign Committee [which] received about $20.6 million from business interests in the first half of 2006. That's up from $19.5 million for all of the 2004 cycle and represents almost 50 percent of the group's total fundraising.

For the Democratic Senatorial Campaign Committee, the increase was even bigger, up 15.8 percent to $31.5 million, a figure that represented 76.8 percent of the committee's fundraising total.

If there's one thing business understands, it's the value of insurance.

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