Jonn Edwards On Hedge Funds

Filed in archive Hedgetalk on October 9, 2007

Asked about his association with hedge funds: "I think this is a perfectly fair question. And let me answer it. First of all, I was the first candidate, Democrat or Republican, to lay out an aggressive plan to get rid of the tax breaks that are available, including the offshoring that you just spoke about, that are available to hedge fund managers.

They're not right, they're not fair. ... If you look at what I have spent my life doing, including the time since the last election ... I did a whole variety of things. ... I ran a poverty center at the University of North Carolina at Chapel Hill, which I started ... My wife, Elizabeth, and I started a college-for-everyone program, for kids who are willing to work when they were in school to be able to go to college; I personally did humanitarian work in Africa. These are the things that I spent my time doing, and I don't apologize for them. I'm proud of what I've spent my life doing."

More: "When I found out that there were foreclosures going on in Louisiana, in New Orleans, which is specifically what you're asking about, I responded immediately. Called the people at Fortress, told them that they needed to take action. I thereafter took any investments that I had in that operation out. On top of that, we have started a fund, a home rescue fund, with a local community activist group in New Orleans to actually provide help to people who are having their homes foreclosed on in New Orleans."

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