17
Aug
07

JOHN EDWARDS ATTACKS HIMSELF FOR BEING A PREDATOR

So dreamy, yet so douchey.Throughout his campaign, John Edwards has spit a lot of venom at the subprime lenders many feel have been preying on homeowners and causing the recent crisis in the housing market.  As he is quoted by his campaign in a press release:

“While Washington turns a blind eye, irresponsible lenders are pulling a fast one on hard-working homeowners. Using deceptive practices, hidden fees, and abusive terms, they have already taken billions of dollars from hard-working homeowners, destroying their nest eggs in the process. … It’s time to put an end to the shameful lending practices that are compromising our strength as a nation.”

Funny then that he’s made so much money off the very practices he so sharply derides.

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.”

That’s right; post-Katrina New Orleans, where he announced his candidacy in the backyard of such a home, his fallback talking point and favorite symbol of all that is wrong with America.

The hypocrisy of John Edwards is almost overwhelming.  What’s worse is how many among the country’s most vulnerable people believe his lies.  And that makes him the worst kind of predator.

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