The donors start to bail

The big money donors are starting to bail from Mitt Romney’s campaign as they move to shore up support in the House of Representatives races.

The Romney campaign is experiencing what some officials believe could be the beginning of a mass exodus of big money donors diverting their cash away from the Republican presidential hopeful and toward Republican candidates for the House and Senate races more likely to win in November, the FOX Business Network has learned.

The trend isn’t at the acute stage, at least not yet, said one person with direct knowledge of the matter. This person, a major player in Romney’s New York fundraising circles, confirmed to FOX Business that a few New York donors have backed away from financial commitments to the Romney campaign and instead said they will spend their money to help the Republicans hold on to the House of Representatives, and pick up seats in the Senate.

But another person with direct knowledge of the matter says the trend, though nascent, is more geographically broad based, and reflects an increasing degree of anxiety both with what they believe is the tentative nature of the Romney campaign, and recent poll numbers that show President Obama with a lead, particularly in key battleground states, that some Republican contributors are starting to believe is insurmountable.

“This isn’t just a New York trend,” this person said. “It’s beginning to occur all over the place.”

Ezra Klein predicted this a week ago in an article entitled “Romney’s Nightmare Scenario“:

The RNC and the super PACs know that their money is becoming less and less useful in the presidential race. At this point, voters know Obama very well, and they know Romney well enough. Swing state voters have seen enough ads to last them a lifetime. Sinking a few more dollars into the presidential campaign just isn’t going to do much. The same can’t be said for House and Senate races, where voters have less information about the candidates and are more susceptible to advertising.

At some point, if Romney looks likely to lose, the RNC and the super PACs are going to move to a strategy of damage control, flooding House and Senate races with cash in order to assure that most anything Obama attempts to do in a second term will have to make it through a Republican Congress. Making matters worse, interest groups that were betting on a Romney victory might switch sides in a last-minute attempt to curry some favor with the Obama administration, further starving Romney of the funds necessary to mount a comeback.

If that happens, then Romney goes from being likely to lose to being almost certain to lose, as his apparent cash advantage is, along with the possibility of a miracle at the debates, pretty much the only thing keeping him in the game.

The donors have moved from offence to defence and are hedging their bets on the debates…they simply don’t think Romney can deliver a killer blow in the debates.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.