Schiff raises $800k in a month

Connecticut investment advisor Peter Schiff (R) has raised more than $800,000 in the first four weeks of his exploratory Senate committee, his campaign announced Monday.

The total is more than former Rep. Rob Simmons (R-Conn.) and former Ambassador to Ireland Tom Foley (R) raised in the entire three-month second quarter; Simmons raised $750,000, while Foley raised $530,000 after entering the race with about a month to go. It also serves as notice that Schiff will pose, at the very least, a well-funded alternative in the GOP primary to face Sen. Chris Dodd (D-Conn.).

Schiff’s total includes $330,000 in the last four days – much of it thanks to a so-called moneybomb, in which supporters wait until the same time to register their contributions. Rep. Ron Paul (R-Texas), another libertarian-leaning GOPer whom Schiff advised during last year’s presidential primary, used a similar technique to raise large sums of money.

Schiff’s challenge will be turning that money into a campaign with a realistic chance of winning, which is something Paul didn’t have.

As exploratory committee’s go, Schiff’s fundraising is tremendous. Kentucky Secretary of State Trey Grayson (R) raised about $600,000 for his exploratory campaign in the second quarter, and Schiff’s four-week total would be a solid quarter for many top Senate candidates around the country.