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.
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.
This guys is amazing. He has a whole section of his website (http://johnedwards.com/issues/predatory-mortgages/ dedicated to criticizing predatory mortgages, but has absolutely no problem serving as and advisor to one such company or investing $16 millions in it. Just one more example of liberal hypocrisy - do as I say not as I do.