In August 2008, Smith held a golf-outing fundraiser for a group of 75 lobbyists, who each paid up to $75,000 to attend. One lobbyist who attended told the "New York Post" that Smith told the assembled group that giving him campaign contributions was akin to an IPO, in that they "should get in early because then it doesn't cost as much. The longer you wait to get in... the more it will cost you and if you don't get in at all, then it will be painful." The lobbyist said that, after these remarks, "people were looking around the room in disbelief."