Romney's cash lead fueled by own fortune

WASHINGTON -- Presidential contender Mitt Romney has retained his fundraising edge over his Republican rivals, despite a slightly larger haul by Rudy Giuliani in the past three months, figures released Thursday show.

Romney's lead is based, in part, on the substantial loans he's made to his campaign, including $8.5 million from July through September. The third-quarter loan represents virtually all the cash Romney has on hand to fight for his party's nomination.

"Without his personal funds, he would be broke today," said Jennifer Steen, a political scientist at Boston College, who studies self-financed candidates.

Romney, who is worth $190 million to $250 million, is not the first candidate to help fund his own campaign. Texas billionaire Ross Perot and publisher Steve Forbes each pumped millions into their unsuccessful presidential bids.

Unlike other wealthy candidates who rely on their own financing, Romney has spent considerable time and effort to court individual donors to build his organizational strength on the ground in early voting states.

The strategy could be working: The former Massachusetts governor leads all state polls in Iowa, which holds the first caucuses in the 2008 race. In New Hampshire, home to the first primary, Romney is either first or tied for the lead, but his share has slipped in recent weeks.

By comparison, Romney is ranked fourth in most national polls and is well behind Giuliani, who is at the top.

The fundraising figures released Thursday by each campaign show Romney collected $10 million from July through September, not including the money he loaned himself. Giuliani raised $11 million, and former Tennessee senator Fred Thompson collected $9.3 million. Arizona Sen. John McCain said he raised $6 million.

Among the leading GOP contenders, Romney is the only one to put his own money into the campaign. McCain, whose campaign has struggled financially, has said he would not tap the fortune of his wife, Cindy, an heiress to a major beer distributor. Giuliani spokeswoman Maria Comella said the former New York City mayor does not plan to self-finance his campaign.