POWER OF ATTORNEY


	KNOW ALL MEN BY THESE PRESENTS, that the person whose name
appears below nominates, constitutes and appoints Donald F.
Crumrine, Robert M. Ettinger and Peter C. Stimes (with full power
to act alone) his true and lawful attorney-in-fact and agent, for
him and on his behalf and in his place and stead in any and all
capacities, to execute any and all filings on Form 3 (Initial
Statement of Beneficial Ownership of Securities) pursuant to
Section 16(a) of the Securities Exchange Act of 1934 and Section
30(h) of the Investment Company Act of 1940, as amended ("Form 3
Filings") with respect to initial beneficial ownership of
securities of FLAHERTY & CRUMRINE/CLAYMORE TOTAL RETURN FUND
INCORPORATED (the "Fund"), and to file with the Securities and
Exchange Commission, The New York Stock Exchange and the Fund such
Form 3 Filings, granting unto said attorney, full power and
authority to do and perform certain acts and things requisite and
necessary to be done in and about the premises as fully to all
intents and purposes as the undersigned himself might or could do.

	IN WITNESS WHEREOF, the undersigned has hereunto set his
hand this 28th day of July, 2003.



/s/ Robert F. Wulf
Name: Robert F. Wulf
Title:   Director, Flaherty & Crumrine/Claymore Total Return Fund
Incorporated


EXPIRES:  February 28, 2004