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“Surprise Winners In Sub-Prime FIASCO: John Edwards…??”
By Sherman Ragland | August 17, 2007
YES!
It turns out that one of the Big Winners in the Sub-prime Mortgage Meltdown is none other than Presidential Candidate (D) John Edwards.
It seems that former Senator, and Multi-millionaire Trial Lawyer John Edwards is also a very savvy investor…
Specifically, Senator Edwards owns a significant stake in Fortress Investment Group LLC, a national SUB-PRIME LENDER, with significant investments in the South. Turns out that Senator Edwards through his investments in Fortress has either FORECLOSED or is in the process of FORECLOSING on at least 34 houses in New Orleans.
Wait a Minute!!
Is this the SAME Senator John Edwards I caught on C-SPAN a couple of weeks ago – standing with two homeowners who are going through foreclosure and saying that as “PRESIDENT EDWARDS” he would pass laws “PROHIBITING THE TACTICS USED BY MANY SUB-PRIME LENDERS”???
DUDE – You forgot to mention that you may in fact be the guy who is foreclosing on those two women standing next to you!
John – excuse me, SENATOR Edwards, I have just one question “So, why do you need to become President of the US to stop with your own foreclosure action…?” As the majority stock holder can’t you just tell them to “cut it out”, without having the power nuclear weapons at your finger tips, and the worlds finest private jet at your disposal 24/7?
Stupid me, I guess living in DC this long, and I still don’t know how to “think like a politician”.
One last thought…
Many, many years ago in my youth, I used to scoff at the notion that the reason why there are so many FEDERAL laws that FAVOR Real Estate Investors, and real estate investing over other forms of investing is because the people who make up the laws own so much darn real estate. Phrases like:” The Reason We Will Always Have Favorable Tax Treatment of Real Estate is that the US Senate Is Known As the Millionaire’s CLUB, and most got that way through real estate investing…” use to make me respond by saying to the person uttering those words: “YOU ARE A FREAKING CONSPIRACY THEORIST – YOU HAVE SPENT TOO MUCH TIME READING THE INQUIRER AND GOING TO MEL GIBSON MOVIES!”
Once again, I see that I may have been wrong…
Guys like Senator John Edwards have to make you think about it – So the folks who want to sit in the White House, want to do it so they can “Come to Washington to Change Things for the Little People…”
Humm…
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Tags: fortress investment group llc, president edwards, senator edwards, senator john edwards, sherman ragland, sub prime lenders, sub prime mortgage
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