11 May 2007
JOHN EDWARDS WANTS TO SELL YOU A TRAILER
FILED UNDER: Cash Money, Evil, john edwards, subprime lending, trailers 5 comments
Looking to expand his already enormous plantation in North Carolina, empty headed sex doll and present presidential candidate John Edwards took a position in 2005 with a company pushing predatory loans to poor families looking to buy trailers.
Known as "subprime lending," the loans are issued by banks to people looking to buy homes who don't have the financial means to repay them, often leading to the bank later seizing the property and leaving already poverty stricken families bankrupt.
Despite being a major figure in the Fortress Investment Group, Edwards claims he had no idea that the company he was working for took part in the lending scams. "Had he learned that Fortress owned a loan servicer with a history of predatory lending practices, he said, "I would have asked some very specific questions about it."
Edwards, who has based his campaign around ending poverty forever and singlehandedly rebuilt New Orleans with his own hands, has made predatory lending one of the focuses of his campaign. It's unknown whether the $167,700 he received from Fortress Investment Group would have any influence on his run for the presidency.
SOURCES:
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