Hollywood stars choose between Clinton, Obama

LOS ANGELES, Jan 26 (Reuters) Even as they ponder their Oscar choices, the wealthy stars of Hollywood's liberal establishment are weighing up the choice between the Democratic Party's two leading lights for president in 2008.

The entertainment industry has long been a cornerstone of support for Democrats seeking public office, and New York Sen. Hillary Rodham Clinton, like her husband, former President Bill Clinton, has been one of the chief beneficiaries.

But a newcomer to Hollywood's money trail, Illinois Sen. Barack Obama, is coming next month for a fund-raising reception hosted by three of the most influential moguls -- Steven Spielberg, David Geffen and Jeffrey Katzenberg of DreamWorks.

Invitations went out this week to 700 donors and activists asking them to give the allowed annual maximum of 2,300 dollars per person to meet Obama at the Beverly Hilton Hotel on February 20.

A private dinner at Geffen's home in Malibu will be held for those pledging to raise 46,000 dollars for the Chicago Democrat.

But the first high-profile celebrity donation to a 2008 Democratic hopeful went the other way, with actress Elizabeth Taylor contributing 2,100 dollars to Clinton's campaign.

''I like the way she thinks,'' Taylor said in a statement.

Several Democratic consultants told Reuters that Clinton remains in a class of her own on the Los Angeles fund-raising circuit, with strong ties to the entertainment community.

All indications are that veteran Clinton loyalists like producers Haim Saban and Steve Bing, former studio chief Sherry Lansing and magnate Ron Burkle remain firmly in her camp.

Nevertheless, a parade of celebrities have expressed support for Obama or are considering it.

Obama launched his exploratory committee 10 days ago and Clinton quickly followed suit.

A new Time magazine poll found registered Democratic voters favor Clinton over Obama by 40 per cent to 21 per cent, though Obama drew far greater support across party lines.

HEDGING THEIR BETS Many of the wealthy in Los Angeles will write checks to more than one campaign, especially early in the race, as donors hedge their bets, experts said.

''There will be a lot of donations to multiple candidates,'' Democratic strategist Bill Carrick said.

Spielberg plans to help several candidates and has also volunteered to host a fund-raising event for Clinton, though no specifics have been discussed, spokesman Andy Spahn said.

Spahn added that Spielberg will settle eventually on a single candidate. While Katzenberg has endorsed Obama, Geffen has not made public his support for any candidate.

Political analysts say there is plenty of Hollywood money to go round for Clinton, Obama and other Democrats eyeing the White House, including Connecticut Sen Christopher Dodd, Delaware Sen Joseph Biden and former North Carolina Sen. John Edwards, the party's vice presidential nominee in 2004.

Some Democratic activists have privately expressed anger at Clinton's early support for the Iraq war. They worry she may prove too divisive a candidate to win at election time or that some voters are facing ''Clinton fatigue.'' ''There's no question that California in general, and L A in particular, likes to see new faces and somebody they see as a real comer, and to some degree Obama has achieved rock-star status quickly,'' Carrick said.

But others said Obama remains relatively untested and that the initial burst of enthusiasm he generated could fade.

''Barack Obama is going to learn things about himself that he himself never knew,'' veteran Democratic consultant Joe Cirrell said. ''It's fashionable right now to be for him.'' REUTERS SI ND2044