Tuesday, May 08, 2007

John Edwards – Not Just an Empty Suit!

He also has a couple of $400 haircuts….

And thinks that you find poor people while working at a $35 billion dollar hedge fund… One filled with your campaign donors.

“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?’”

Yup, there’s a definite connection between hedge fund managers and poor people.

Hedge fund managers make money, and poor people make a lot less.

On the plus side of Edward’s remarks, at least he’s willing to note that Dick Durbin is nuts. Not like that’s a secret or anything, but it’s somewhat refreshing.

Update (12 May 2007): do candidates (at least the “major” ones) come more clueless than John Edwards? Now it turns out that his hedge fund employer was involved in the sub-prime lending business. This, of course, is one of the main issues on which Edwards has been campaigning.

Thank goodness he asked if they were involved in predatory lending. I can hear the conversation now:

Edwards: “Do you engage in predatory lending practices?”
Fortress: “Why no, Senator, we help disadvantaged people realize the American Dream of home ownership.”
Edwards: “How much can I make again? Where do I sign?”

He could have had virtually the same conversation with local mob loan shark or check cashing business, and come to the same conclusion:

Edwards: “Do you engage in predatory lending practices?”
Loan Shark: “Why no, Senator, we provide short term liquidity to those in need.”
Edwards: “How much can I make again? Where do I sign?”