2008 Update: Edwards Searching for Cash
John Edwards needs cash; desperately. After showing in the past couple of days that he's really serious about running, doing that by hiring a campaign manager (ex-Congressman David Bonior), Edwards still faces a crippling quandary involving money. Or, to be more precise, the lack of it. Unlike other big name Dems like Kerry and Hillary, Edwards has no leftover campaign cash from previous elections. Actually, Edwards is still in debt from his unsuccessful '04 run. He's got no money on standby for when he announces his campaign and won't get any until that announcement is official.
But the Edwards crew is not feeling the heat. They're convinced that JE will rake in some serious dough once he hits the campaign trail, citing his mega-fundraising during both of his campaigns in 2004. And his pre-made connections in Dem donor circles will help, too.
Although he cannot legally accept donations for a 2008 bid until after filing paperwork with the Federal Elections Commission, Edwards and his team already are lining up support among donors.
"We have a good list and are checking to see who is naughty and nice," said Fred Baron, the finance chairman for Edwards' 2004 campaign.
Maybe Edwards would have some cash of his own to start his run if he didn't spend so much green on PS3's...