May 23, 2007
John Edwards Linked To $500 Million Booty Call
Thought that would get your attention.
Actually it's pirate booty they're talking about.
The question of the day: Just how much of the $500 million sunken treasure found in the Atlantic last weekend belongs to Democratic presidential candidate John Edwards?I think this is timed suspiciously close to Friday's release of "Pirates of the Carribean: At World's End".I put a call in to Edwards' campaign yesterday morning to find out, but I haven't heard back yet.
The reality? The populist one-term senator will get an undisclosed piece of the action from the sunken 17th-century galleon.
The ship, laden with gold and silver, was found at the bottom of the Atlantic by a little-known exploration company, Florida-based Odyssey Marine Research.
Even less well known is who owns OMR.
Biggest shareholder: New York-based Fortress Investments, a private equity and hedge fund manager. Senior adviser and major investor: John Edwards.
Edwards' personal financial disclosures show he's an investor in the exclusive Drawbridge Global Macro Fund, which owns the 9.9% stake in OMR.
Ten percent of $500 million. After costs, of course.
"Right. Now I believe the esteemed Sen. Edwards and I might just have a little property rights dispute here. Savvy?"