Sunday, August 19, 2007

Speaking of Hypocrites ...

... check out this article from the WSJ. One of John Edwards' favorite mantras is how we need to take care of the victims of Hurricane Katrina. Sounds great. But, if Edwards is so concerned about them, why does he have $16,000,000 invested in a mortgage firm that is evicting those same Katrina victims for not making their mortgage payments?

Edwards, Foreclosure Critic, Has
Investing Tie to Subprime Lenders

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.

No comments:


Blog Archive