Say it ain’t so!
Democratic presidential candidate John Edwards, who has called homeownership ”the foundation of the American dream,” said Friday he will get rid of personal assets tied to lenders who have foreclosed on Hurricane Katrina victims.
”I will not have my family’s money involved in these firms that are foreclosing on people in New Orleans,” he said.
Edwards has reported $29.5 million in assets, more than half of which are invested in the hedge fund Fortress Investment Group, a company that paid him nearly half a million dollars last year for consulting advice.
Fortress has investments in lenders that offer subprime mortgages, higher priced loans for borrowers considered greater risks. The Wall Street Journal on Friday identified 34 New Orleans homeowners who face foreclosure actions from lenders connected to Fortress.
But Edwards says he is going to help those people!
This is the "champion of the poor." Why did he not get out of Fortress long ago? Oh, yes, I forgot. He hadn’t been caught yet. Nothing like some good Democratic hyposcrisy.
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