McCain Bundler Expects Good Money, But Not Obama Money

John McCain is having a major fund-raiser at New York's Sheraton hotel tonight with Rudy Giuliani that is expected to raise around $7 million or the candidate, a figure one of tonight's attendees and a major fund-raiser to the candidate admitted amounted to peanuts compared to what Barack Obama is capable of raising.

"How do you deal with that?" said the nationally influential fund-raiser. "You raise $7 million in a night in New York and everybody is high fiving themselves from West End Avenue to the East River."

The donor added, "I don’t think that anybody can run a money race against Barack Obama."

The bundler said Woody Johnson, the owner of the New York Jets and the event's chairman, had done an excellent job at putting the together the fund-raiser, which included just about every prominent Republican donor in New York, but said McCain would ultimately rely heavily on money from the RNC and state parties and on public funding.

The donor said that the McCain fund-raising structure was also hoping that the massive amount of media outlets, including dozens of talk shows, blogs and YouTube views, would provide free press for the candidate, and that Internet donations could also work to McCain's advantage.

"Senator Obama has taught all of us a lesson about what is doable," the donor said.