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August 17, 2007
More Jaw Dropping Hypocrisy from Edwards
Ed Lasky gives us this story about John Edwards and the continuing disconnect between his class warfare rhetoric, skewering the rich for practices he himself takes part in:
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. Simply incredible.
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.
Asked about the matter, Mr. Edwards yesterday pledged that he would personally provide financial assistance to New Orleanians who are facing foreclosure by Fortress-affiliated businesses or have lost their homes already. "I intend to help these people," the former North Carolina senator said.
Ed Lasky adds "When you lie down with dogs, don't be surprised if you end up with fleas. Funny, how the New York Times missed out on this story."
You can bet it would be all over the front pages of the Times if it had been a Republican being such a hypocrite. Here's what Edwards had to say about sub prime lenders:
"While Washington turns a blind eye, irresponsible lenders are pulling a fast one on hard-working homeowners,'' Mr. Edwards said a few days later. ... It's time to put an end to the shameful lending practices that are compromising our strength as a nation." It's amazing this guy is still in the race.