2007-08-30 03:29:15 · 8 answers · asked by junglejoe 2 in Politics & Government ➔ Politics
He made millions by investing in Oil, Drugs, Sub-Prime lenders and other firms that Pelosi swore were "evil."
2007-08-30 03:33:06 · update #1
Where is your link?
Or rather, were is your links?
5 thumbs down asking for proof---------oh well, just goes to show were the jack booted thugs that call themselves republicans and neocons, were their allegiance lays. Somewhere between Pol Pot and Hitler. Nice show guys, I'll give you 5 thumbs up for showing your true totalitarian ways.
Peace
Jim
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2007-08-30 03:33:35 · answer #1 · answered by Anonymous · 1⤊ 5⤋
Not sure how much, but the investment was in a hedge fund. Not direct mortgages.
Here is some info if you are really interested:
Edwards has reported $29.5 million in assets, millions of which are invested in the hedge fund Fortress Investment Group., a company that paid him nearly half a million dollars last year for consulting advice.
Fortress has investments in lenders that offer subprime mortgages, higher priced loans for borrowers considered greater risks. The Wall Street Journal today identified 34 New Orleans homeowners who face foreclosure actions from lenders connected to Fortress.
"My reaction is I'm going to help these people," Edwards said in a telephone interview. "I just learned about this. I don't know the details, I will find out and I will find a way to help them."
2007-08-30 11:03:00 · answer #2 · answered by Think 1st 7 · 1⤊ 0⤋
You know what you don't make a lot of money off foreclosures. The money comes from the high interest that sub-prime borrowers pay. It was just two-faced of him to be their comforting the poor people of New Orleans when he knew that those loans that his company had made would be foreclosed on and these people would lose their homes. But, if you want to vote for him go right ahead. I wouldn't but that is just me.
2007-08-30 10:41:18 · answer #3 · answered by Anonymous · 1⤊ 1⤋
Liberals keep justifying John Edwards' spending habits. All one really needs to know is the way he has earned his money in the first place. He is an ambulance chaser who takes advantage of people when they are down.
And apparently that includes the poverty-stricken in New Orleans.
2007-08-30 10:37:49 · answer #4 · answered by Anonymous · 3⤊ 3⤋
Oil makes our cars run, pharmacy drugs help the sick, subprime loans allowed common America to own a home (albeit it was a bad idea now), ... I'm not sure how this translates to being evil. Corporations aren't evil, they are there to make profit. In cases like Enron and others, they are in the minority versus the majority and are subsequently hanged by the SEC in one shape or another.
And if you don't like capitalism, we live in a democracy not communism. Cuba I hear is welcoming socialists.
2007-08-30 10:36:00 · answer #5 · answered by John Rosa 3 · 3⤊ 3⤋
I'm outraged by this, but for some reason our media doesn't seem to be, I think this was the most hypicritical act to have him comforting those 'poor people in NO' while he is kicking them out in the streets after many of them used what money they had to rebuild!!! And this is who we want as a president?!
2007-08-30 10:37:11 · answer #6 · answered by Brianne 7 · 5⤊ 3⤋
Is this a question?
I don't know.... $6,230,004.83 (even though I doubt he made any money off of New Orleans or real estate foreclosures but I'll play)... but that's just a guess.
Is it now a crime to be rich if you are a Democrat?
2007-08-30 10:36:39 · answer #7 · answered by cattledog 7 · 1⤊ 4⤋
Whats your point, after all ain't that they American way!!!!!!!!!!!!
2007-08-30 10:53:05 · answer #8 · answered by man of ape 6 · 1⤊ 0⤋