America vs. hedge funds?

Tue May 29, 2007



Just as it ponies up an initial $1 million for the presidential race, the industry gets dragged into the tax debate

By Michelle Celarier

Democratic presidential candidate John Edwards had to be surprised by the question thrown at him during the first Democratic presidential debate: “Do hedge funds make America better in any way?” asked NBC News anchor Brian Williams, the event’s moderator.

On the TV talk-show circuit and in the press, hedge fund questions have since dogged Edwards, who worked as a consultant to Fortress Investment Group following his failed vice presidential bid in 2004 and raised $182,250 during the first quarter from Fortress employees – about 13% of his entire war chest. The Fortress cash also gave Edwards the distinction of coming in second among presidential hopefuls in hedge fund contributions so far, according to an analysis by the Center for Responsive Politics of...

ISSN: 2151-1845 / CDC10004H

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