Considering it was the National Enquirer which broke the story about The Breck Girl's affair and baby, I find this paragraph more than a little bit condescending.
If Edwards is really down and out, it might mean he has a conscience after all.
Hardly.
A conscience is about feeling bad about wronging others.
He’s feeling bad about the consequences he’s possibly going to suffer - himself. Not the suffering he’s inflicted on others.