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 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.

I think this is timed suspiciously close to Friday's release of "Pirates of the Carribean: At World's End".

"Right. Now I believe the esteemed Sen. Edwards and I might just have a little property rights dispute here. Savvy?"

Posted by Gary at May 23, 2007 03:00 PM | TrackBack