Bypassing public financing may not be paying off for Obama

After months of record-breaking fundraising, a new sense of urgency in Barack Obama’s fundraising team is palpable as the full weight of the campaign’s decision to bypass public financing for the general election is suddenly upon them. (snip) The signs of concern have become evident in recent weeks as early fundraising totals have suggested Mr. Obama’s decision to bypass public financing may not necessarily afford him the commanding financing advantage over John McCain that many had originally predicted. (snip) Meanwhile, the Obama campaign had calculated that with its vaunted fundraising machine, driven by both small contributors over the Internet and...

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