Edwards Will Accept Public Financing

With the deadline to report third-quarter fundraising looming, John Edwards said yesterday his campaign will accept public financing. He calls the unexpected shift “a principled stand,” but the Politico deems it “probably also the only lifeline he has to stay in the race." The ex-senator urged Hillary Clinton and Barack Obama to join him, CNN reports.

Analysts project Edwards will announce a 3Q fundraising total of $5 million to $7 million, trumped by the projected $18 million or more raised by his each of top rivals. He'll be the first major Democratic candidate to submit to public financing rules, which he has previously said would prevent him from competing effectively. (More John Edwards stories.)