Next week may bring image problems for the Presidential candidate running as the champion of Americans who live in poverty.
Disclosure forms by Fortress Investment Group will reveal how much former Sen. John Edwards earned by working for them last year. That will compound the difficulties suggested today in a Washington Post story that leads off: “The hedge fund that employed John Edwards markedly expanded its subprime lending business while he worked there, becoming a major player in the high-risk mortgage sector Edwards has pilloried in his presidential campaign.”
In fairness, all candidates turn to Wall Street for financing. But in addition to his salary, Fortress people have provided Edwards’ campaign with over $167,000 in contributions.
The former Senator is somewhat hazy about whether or not he knew that his employers were foreclosing on mortgages held by Hurricane Katrina victims whose homes were destroyed.
In hindsight, Edwards told the Post, he doesn’t regret taking the job. "I did learn something about capital markets that's valuable," he said. "I think it's very important for a president to understand how markets operate."
It’s also important for a president to know what the people working with him are doing.