The Campaign Spot

John Edwards’ Hedge Fund Work: A Mere $480,000

The income race for 2006: Rudy Giuliani, $17 million. John Edwards, $7 million. Barack Obama, about $1 million.

Edwards earned $480,000 working as a part-time senior advisor to Fortress Investment Group, a New York-based hedge fund. This would be the massive financial institution that he said he joined “to learn about financial markets and their relationship to poverty.”
First lesson: If you work for a hedge fund, even part-time, you’re probably not in poverty.
UPDATE: Hillary Spot reader Steve asks why this isn’t considered a “bribe,” as most people pay enormous sums to learn about financial markets in business school, while Edwards gets nearly a half-million dollars.
Seems to me the Federal Election Commission hasn’t figured out a way to regulate this yet; candidates are free to seek outside income, and there aren’t many restrictions on where they can get that income, or how much. But at least Edwards had the good sense to stop working before he declared his candidacy. Tom Vilsack signed on for additional consulting jobs during his short-lived campaign.

Most Popular

Trump: Yes

Editor’s Note: The following is one of three essays, each from a different perspective, in the latest edition of National Review on the question of whether to vote for President Trump. The views below reflect those of the individual author, not of the NR editorial board as a whole. The other two essays can be ... Read More

Trump: Yes

Editor’s Note: The following is one of three essays, each from a different perspective, in the latest edition of National Review on the question of whether to vote for President Trump. The views below reflect those of the individual author, not of the NR editorial board as a whole. The other two essays can be ... Read More
Media

The Hunter Emails

According to a 2015 email, then–vice president Joe Biden met with a top executive at Burisma, the Ukrainian energy firm that paid Biden’s son, Hunter, $50,000 a month to sit on its board. Earlier, the Burisma executive had asked Hunter to use his influence to quell Ukrainian government officials who were ... Read More
Media

The Hunter Emails

According to a 2015 email, then–vice president Joe Biden met with a top executive at Burisma, the Ukrainian energy firm that paid Biden’s son, Hunter, $50,000 a month to sit on its board. Earlier, the Burisma executive had asked Hunter to use his influence to quell Ukrainian government officials who were ... Read More