"Edwards, Foreclosure Critic, Has Investment Ties To Subprime Lenders" from the Wall Street Journal says that John Edwards has investments in Fortress - a hedge fund he worked for before declaring his candidacy for 2008 - and whom he has considerable holdings. Ironically the man who announced his candidacy in New Orleans to highlight the plight of the Katrina victims - has indirectly victimized them via Fortress.
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.
Edwards said he will help the homeowners impacted by Fortress - and will divest his portfolio of these sorts of investments. Michelle Malkin weighs in...
We'll see...
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