Monday, August 20, 2007

More walking the talk.....John Edwards




Recently, while on the campaign trail, Democratic presidential hopeful John Edwards has railed against sub prime lenders, especially those that have foreclosed on the homes of Hurricane Katrina victims. An in general, proclaimed himself an advocate for the poor.









  • During a visit to Katrina-ravaged New Orleans in April, Edwards proposed to rein in sub prime mortgage companies, saying their "shameful lending practices” threaten millions of homeowners. In July he also visited a neighborhood in Cleveland with a high foreclosure rate, saying: "This is wrong ... These people have been taken advantage of.”



  • The Wall Street Journal reports that (34) New Orleans homeowners have faced foreclosure suits from a company called the Fortress Investment Groups, LLC.


  • Fortress Investment Groups have also foreclosed on (4) homes in the Cleveland neighborhood where Mr. Edwards spoke.


What does Mr. Edwards think about this horrible company????



  • Edwards has invested about $16m in the Fortress Investment Group.


  • Edwards worked for Fortress, a private-equity fund, from late 2005 through 2006


  • In 2006 Fortress paid him $479,512 for part-time work, according to a Federal Election Commission report.


  • Fortress employees comprise the largest class of political contributors to Edwards, having donated more than $150,000 to his presidential campaign in the first six months of this year.


  • When confronted about the apparent hypocrisy of his anti-sub prime efforts, Edwards told the Journal that he would personally provide financial assistance to New Orleans residents who have lost their homes to Fortress, and he vowed to divest his portfolio of any investments that may profit from their losses.




Want more proof of what a tool this guy is???







  • NewsMax reported, on Aug. 2, that Edwards criticized Democratic rival Hillary Clinton for taking more than $20,000 in donations from officials at Rupert Murdoch’s News Corp., arguing that the company’s Fox News Channel has a right-wing bias and Democrats should avoid the company.


  • But Edwards himself pocketed a $500,000 advance from publisher HarperCollins for his book "Home: The Blueprints of Our Lives.” HarperCollins is a Fox News Corp. subsidiary.


  • After Edwards criticized Clinton, News Corp. asked if he would return the advance. Edwards said he would not.


  • He has also said he donated the money to charity, but Bill O’Reilly’s show on Fox claimed that when asked, he did not provide proof of the donations

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