Is John Edwards Owned?

May 17 (EIRNS) -- John Edwards, candidate for the Democratic Presidential nomination, revealed in his Federal Election Commission filings of net worth yesterday that he made nearly $8 million from his short-term association with the hedge fund Fortress Investment Group.

Edwards made $479,000 in salary from Fortress, working as a "senior advisor"' from October 2005 until December 2006. Edwards, who has made fighting poverty the signature issue of his campaign, said he was unaware of Fortress's heavy involvement in sub-prime lending, which preys on those with poor credit ratings by offering high interest rates and hidden charges.

Yesterday's filing also showed that Edwards made more than $7.5 million from his investments with Fortress. One of the Fortress funds which Edwards reported as an asset, the Investments Fund III (Fund D) LP, was incorporated in the Cayman Islands. Edwards the candidate has denounced offshore tax havens, and promised to end them. His spokesman insisted that Edwards has paid taxes on the hedge fund profits, according to the Washington Post, but we all know the WAPO just lies.

Remember, the hedge funds, together with the private equity firms not only have destroyed many U.S. industries, but they have suffice to buy off U.S. presidential candidates. See: