I wonder which one he falls in? (Yahoo News)
Democratic hopeful John Edwards reported earned income of $1.25 million, the biggest single source of which was a hedge fund that employed him part time. He and his wife, Elizabeth, reported $29.5 million in assets, including millions invested in the hedge fund — the Fortress Investment Group.
I have mentioned said hedge fund previously. I wonder how the AP will cover it
Edwards, who has made fighting poverty a signature element of his campaign, said his work for a fund that generally caters to the wealthiest of investors was designed to educate him about the way financial markets operate. Fortress paid Edwards $479,512 for his consulting services.
The candidate and his wife had $1 million to $5 million in the Fortress Investment Fund III, a Fortress subsidiary that invests in businesses in the United States and Western Europe. He had lesser amounts in other investment funds.
Edwards received about $395,000 in paid speeches — most of them at colleges — and was paid $40,000 salary for work at the University of North Carolina Center on Poverty, Work and Opportunity.
I guess I am missing the part about Fortress being a big player in the subprime lending market, which tends to take advantage of, heck, at times, prey on, poorer people and those with bad credit. Sure, not all the time, and some have possibly done good work for those classes. Everyone deserves a chance. But, mostly preying.
I’m glad Edwards recieved $40K to work for a poverty center. Shows what part of the "two America’s" he represents. The haves.
Let’s say he wins it all: will his "rolling back the tax breaks on those making $200K or more" stop somewhere around $1 million? Would anyone want to take that bet?
I do not have a problem with him making money: I have a problem with his hypocritical language.
