August 17, 2007
As a presidential candidate, Democrat John Edwards has regularly attacked subprime lenders, particularly those that have filed foreclosure suits against victims of Hurricane Katrina. But as an investor, Mr. Edwards has ties to lenders foreclosing on Katrina victims.The Wall Street Journal has identified 34 New Orleans homes whose owners have faced foreclosure suits from subprime-lending units of Fortress Investment Group LLC. Mr. Edwards has about $16 million invested in Fortress funds, according to a campaign aide who confirmed a more general Federal Election Commission report. Mr. Edwards worked for Fortress, a publicly held private-equity fund, from late 2005 through 2006.
So let's look at this real closely. John Edwards preaches about compassion and helping the poor -- while foreclosing on Katrina victims and profiting from their misery.
Q: Has he no shame?
A: No -- but then again, we already knew that.
Posted by: Greg at
12:18 AM
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In any event, even if you think Edwards was looking for an investment strategy that would do the most damage to the poor (which of course is a ridiculous notion), do you think that he is such the prognositicator that he said "ah ha -- I will make sure that the subprime loans I invest in will be in New Orleans, because a hurricane will hit there"??
But no, I suppose actually thinking this through would interfere with your enabling the agenda of attacking someone who, as president, would instiute things like universal health care (because, you know that's "socialized" medicine. Oooh, scary.)
Posted by: Mark at Mon Aug 20 14:01:09 2007 (hJZjn)
In addition, you overlook the fact that he was not merely an investor, but was also working for the very sort of firm he condemned at the same time these actions were going on. As such, it is impossible to argue that his hands are not dirty -- tinged with a vile hypocrisy.
If Edwards truly believes that the actions of the company which he part owned and by which he was employed were so reprehensible, I'm sure he could make some sort of reparations for his misdeeds by turning the ill-gotten profits and salary over to the 34 families who were harmed.
Interestingly enough, I don't see any move that direction.
Odd, isn't it, that you hold Edwards to a standard below that which you hold Dick Cheney. I guess your hypocrisy is shining through as well.
Posted by: Rhymes With Right at Mon Aug 20 14:42:16 2007 (/Y7d5)
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