Millionaire candidates learn they can't buy voters' hearts

COLUMBUS, Ohio - Of the 22 candidates who each spent more than $1-million of their own money trying to win their first election to Congress, only one made it.

The lesson, say analysts, is that ready cash is less important than experience and whether voters perceive wealthy candidates as "one of them."

"Millionaires don't automatically win," said Herb Asher, a political science professor at Ohio State University. "The money just gives them instant credibility and puts them in the position to be able to run in the first place."

The sole victor was former federal prosecutor Michael McCaul, who won in a Texas district once represented by Lyndon B. Johnson. The biggest loser - in terms of money down the drain - was securities trader Blair Hull, who spent nearly $29-million trying for a Senate seat but lost in the Illinois Democratic primary to Barack Obama.

The reasons the other 20 lost after spending a total exceeding $40-million differ widely. Some ran against popular incumbents, some duked it out against other millionaires in their state's primary election, and a few ran close and credible races only to come up short at the very end.

"I don't feel it's wasted. It was something that I had to do," Davis said. "What I did was to prove a point."

Blair Hull, D-Ill.; $28.68-million; lost Senate primary.

Doug Gallagher, R-Fla.; $6.59- million; lost Senate primary.

Jack Ryan, R-Ill.; $4.01- million; won Senate primary, then dropped out.

Ben Streusand, R-Texas; $3.49 million; lost House primary.

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