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  1. #1
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    Updated: 03:23 PM EDT
    Edwards One of the Privileged, Data Show
    Kerry's Vice Presidential Running Mate Has Wide-Ranging Investments
    By DAVID PACE, AP

    WASHINGTON (July 6) - John Edwards rose to political prominence criticizing President Bush for creating "two Americas," one for the privileged and one for everyone else. A look at his finances shows he's one of the privileged.

    Edwards, tapped Tuesday by Sen. John Kerry, D-Mass., to be his vice presidential running mate, is a multimillionaire former trial lawyer with wide-ranging investments in mutual funds, stocks of major American corporations and bonds of North Carolina educational and governmental organizations.

    The North Carolina senator's financial disclosure statement shows that he made more than 200 trades of stocks, bonds and mutual funds last year, while he was challenging Kerry and other Democrats for the party's presidential nomination.

    For instance, Edwards made more than $50,000 in profit on sales of IBM stock last year. He reported capital gains of $15,000 to $50,000 each on sales of stock in 3M Co., Caterpillar, Cisco Systems, Clear Channel Communications, and Merck & Co.

    Edwards' financial holdings were in a blind trust until he decided to run for president and had to dissolve the trust because of executive branch disclosure rules, said Michael Briggs, his Senate press secretary. Briggs said Edwards has given his investment adviser, the same one who handled the blind trust, the authority to make all his investment decisions.

    Edwards sold his Washington, D.C., home last year for $3 million, $800,000 more than he paid for it in 1999. Before the sale, to the government of Hungary, Edwards entertained an offer of $3.52 million from a public relations specialist hired by Saudi Arabia to influence Congress and the public after the Sept. 11 attacks.

    Edwards, who at the time was a member of the Senate Intelligence Committee that was investigating Saudi and U.S. terrorism lapses, said he learned months after the offer was made, but before the deal fell apart, that registered foreign agent Michael Petruzzello worked for Saudi Arabia. He said he never talked to Petruzzello about the Saudis.

    Petruzzello made a $100,000 deposit into an escrow account when he made the offer on Edwards' home. The deal fell through when Petruzzello couldn't sell his existing home, and his deposit was never returned. Edwards said last year he would formally disclose the $100,000 deposit if and when he took control of it.

    Edwards built his personal fortune as a trial lawyer, winning $150 million worth of verdicts or settlements in 60 cases in the 1990s. During his presidential campaign, he raised at least $9 million from lawyers before withdrawing from the race in March. He took in about $22 million in all.

    Once Edwards dropped out of the race, he urged his top fund-raisers to support Kerry. In subsequent months, lawyers gave at least $7 million to the Kerry campaign. In March and April, almost $1 of every $10 Kerry raised came from lawyers.

    On the personal financial side, Edwards actively traded in stocks, bonds and mutual funds last year, with individual purchases and sales at times topping $1 million. In August, for example, he invested more than $1 million in a municipal bond mutual fund, then sold his shares a month later.

    Edwards also invested heavily in his home state. He purchased bonds totaling between $1.8 million and $4.1 million in 14 different North Carolina educational and governmental units last year.

    During the buildup and aftermath of the Iraq war, Edwards bought and sold stock in several defense contractors, including Lockheed Martin, United Technologies, General Electric, British Petroleum, Cardinal Health Inc., and General Dynamics.

    Edwards' largest asset at the end of last year was an outstanding loan of more than $5 million to his Senate campaign fund. He also reported four separate holdings of $1 million each, including a money market portfolio, an American Europacific growth mutual fund and two Atlantic Trust mutual funds.


    07/06/04 14:48 EDT

    Copyright 2004 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.



  2. #2
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    NOTICE.......

    He is still a self-made man. He ain't riding on the coat-tails of daddy war-bucks like G. Dubya Bush. So is it that you are just jealous that he made something of himself or what?
    There are 3 ways to do anything in life; Good, Fast, Slow: You can pick any 2.

  3. #3
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    Point is

    He's a blood sucking leach of a lawyer. Old scew them and sue them!!

  4. #4
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    BTW

    Dont the dumbocrats usually personify Joe 6 pack? Take a look a Kerry's personal fortune. He slept his way into that!!

  5. #5
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    Re: Point is

    Originally posted by rob10
    He's a blood sucking leach of a lawyer. Old scew them and sue them!!
    And I'll bet a dollar to a donut that he helped screw up the medical insurance factor for the rest of us !
    Governments don't tax to get the money they need, governments will always find a need for the money they get. Ronald Wilson Reagon

    Born Again KA

  6. #6
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    Originally posted by i_got_ideas
    NOTICE.......

    He is still a self-made man. He ain't riding on the coat-tails of daddy war-bucks like G. Dubya Bush. So is it that you are just jealous that he made something of himself or what?
    ================================================== ==========

    Self-made or not, he and his lib friends want to make it harder fro anyone else to be self-made. They want to take away the incentives to go work hard to become self-made. They don't care if you work hard...they just don't want you to become rich in the process. That is against all that capitalism is about...work hard, become successful and affluent.
    No reserve. No retreat. No regrets.

    For those who have fought for it, freedom has a sweetness the protected will never know.

    http://www.airwarvietnam.com/16thSOSGunners2.jpg

    Proud member of KA Club

  7. #7
    Originally posted by i_got_ideas
    NOTICE.......

    He is still a self-made man. He ain't riding on the coat-tails of daddy war-bucks like G. Dubya Bush. So is it that you are just jealous that he made something of himself or what?
    Yup, he sure is, funny how the repubs think that capatilism is bad when it's a demo who succeeds, huh??
    Hey cockroach, don't bug me! ©

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    Bring Em Home....

  8. #8
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    It's funny how the majority of people hate lawyers, ummm....Edwards is a lawyer.
    What is there to like about him? he's still a lawyer.
    If the bid for the White House fails guess where he's going, too sue somebody. If you really think about it, he could have had a hand in increasing your health premiums.

    He has made his dirty money just as others have.

  9. #9
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    I am not doubting that democrats make it harder on millionaires. They tax fairly.

    At last years Harkin Steak Fry, at the home of Iowa Senator Tom Harkin, Bill Clinton had this to say...."Mr. Bush, I have to thank you, I now get to keep an extra $20,000 per year from my taxes.....I don't need it but I'll take it nevertheless." He then proceeded to talk about how the rich get by much easier under a Republican administration but the little guy (me) sees no benefits. He is right. I have benefited not one bit from any of the polocies of the Bush administration. My Brother is making better money now though....now that he is in Iraq carrying out Bush's revenge on Saddam for the assasination attempt on his daddy.

    Tell me how a Republican administration makes it easier on the little guy to become "self-made". Last year was the first year I have not qualified for an earned income credit on my taxes and I made less than the 3 years before. I do not get to keep anymore of my paycheck. Sure, they fixed the double taxing of stock dividends, but really, how many of us really own stock, not I. They helped those with capitol gains income, I, and many of you don't benefit from that. The Bush administration made it much more attractive to large companies to move thier operations over seas, big, huge mistake.

    What we benefit from is the Democratic policies of helping out the little guy. Under the Clinton administration my net income per year was the highest it has ever been. Now, today I am bringing home less than ever and yet I gross more than ever. I need a tax cut at the poor man's level to help my cause. Screw capitol gains and stock dividends policies, I, and I imagine many of you would like to keep more of your money, we need to vote in an administration that works for us.

    If we truly want to get things going our way we need to VOTE BUSH OUT!!

    I have met and talked with Kerry and his, yes wierd wife. They understand us normal folk and it seems Mr. Edwards does as well. They are 2 down to Earth guys that I look forward to meeting, Kerry for the second time, at this years Harkin Steak Fry. Even better, I look forward to watching them kick the crap out of Bush this November.

    There are 3 ways to do anything in life; Good, Fast, Slow: You can pick any 2.

  10. #10
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    Unlike you

    I have benefitted from the new tax structure on stock. Also, earned income credit is nothing more than government welfare which puts a higher tax burden back on me. I have done great financially under the Bush administration. 3 out of 4 years, I have made more in the stock market than what I have in the trade. Bush will keep the war on terrorism on foreign soil, while the dims will allow it to come to our home soil. Kerry has no clue on a long term energy policy. He's voted against and filibustered the artic drilling issue. The dims are pro-gay and pro-abortion. Just a few of a hundred reasons why I will vote BUSH-CHENEY!!

  11. #11
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    Talk about relating

    Bush-Cheney are both business men like most of the guys here. They are not bottom feeding coward lawyers like their unworthy opponents.

  12. #12
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    Originally posted by Diceman
    Originally posted by i_got_ideas
    NOTICE.......

    He is still a self-made man. He ain't riding on the coat-tails of daddy war-bucks like G. Dubya Bush. So is it that you are just jealous that he made something of himself or what?
    Yup, he sure is, funny how the repubs think that capatilism is bad when it's a demo who succeeds, huh??
    Succeeds? That is like justifying the Mafia's success.

    You talk about jobs losses, Ken Lay? This guy has put little people out of work while amassing a personal fortune.

    He's worse than Keery if anyone could be that.

  13. #13
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    What do you call a crooked lawyer?






















    Senator.
    No reserve. No retreat. No regrets.

    For those who have fought for it, freedom has a sweetness the protected will never know.

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