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Edwards Worked At Hedge Fund (To Learn How To Help The Poor )
 We don't deserve him. The man's a saint. Ascetic lifestyle. Alms for the poor. Tip for the pool boy (but not if the towels are wrinkled!) Democrat John Edwards said Tuesday that he worked for a hedge fund between presidential campaigns to learn about financial markets and their relationship to poverty and to make money too. un hunhIn an interview with The Associated Press, the former North Carolina senator said his yearlong, part-time position with Fortress Investment Group helped his understanding of the connection but he has more to learn. Edwards has made eradicating poverty a focus of his second White House bid. he's doing his best in his own domecile...one of these days, if you elect him...nevermind, you'll pay more in taxes than you gain.. Edwards, a multimillionaire after years as a trial lawyer, would not disclose how much he got paid for a year of consulting beginning in October 2005. He said the amount will be revealed when he releases his financial disclosure forms due May 15. Asked if he had to join a hedge fund to learn about financial markets, Edwards replied, "How else would I have done it?" hire an expert? But then the funds would not be flowing to your own pockets. Color me cynical He said he considered going to an investment firm such as Goldman Sachs, but Fortress was the most natural fit. Presented with the suggestion that he could have taken a university class instead, he said, "That's true." ehhhhh. Yeah "It was primarily to learn, but making money was a good thing, too," the 2004 vice presidential nominee said in an hourlong interview with AP reporters and editors. Hedge funds, now numbering more than 9,000 in the U.S. with assets estimated to exceed $1 trillion, traditionally cater to the rich, as well as pension funds and university endowments, but are increasingly luring less wealthy investors. Fortress Investment Group, founded in 1998, describes itself as "a leading global alternative asset manager" with approximately $35.1 billion in assets under management as of December 31, 2006. The company is headquartered in New York with affiliates around the world. Fortress was the single biggest employer of Edwards donors during the first three months of the year. Donors who listed "Fortress" as their employer contributed $67,450 to Edwards' campaign and supporters who identified their employer as "Fortress Investment Group" gave $55,200 to the campaign, according to Federal Election Commission records. bought and paid for....and no pimp to take a cut. Everybody wins! Hedge funds also have another connection to the Democratic presidential raceChelsea Clinton, daughter of Edwards' rival Sen. Hillary Rodham Clinton, works for a firm called Avenue Capital Group. Edwards said it's fair to ask questions about whether there is a contradiction between campaigning against poverty while working for a hedge fund designed to make rich people richer. But he said the job was a complement to his position as the head of a poverty center at the University of North Carolina, something he said he didn't describe adequately when asked about the hedge fund during the first Democratic debate last month. Hypocisy - your first name is John...or Al... or Sheryl..or Laurie...damn Posted by: Frank G 2007-05-09 |
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