Friday, May 11, 2007

"Two Americas" Edwards entangled in subprime mess

Edwards said his role at a company with a growing stake in the subprime industry should not be seen as undermining his commitment to helping the poor. He noted that since the 2004 election, he has founded a poverty think tank, started a charity for poor college students and assisted campaigns to raise the minimum wage.

"If you put it in the context of all those things, it's very clear where my heart is and where my commitment is," he said.

Oh my... successful trial attorney/ambulance chaser Edwards now has another moniker... mortgagor slumlord, as many like to consider the subprime lending market today. WAPO's "Edwards Says He Didn't Know About Subprime Push" article today has Edwards on the defense for his "advisor" employment status at Fortress Investment Group in Oct 2005 after his failed VP campaign.

Now he pleads ignorance to the massive subprime loan focus of the company, and to those similar firms it acquired after his employement. And, of course, reading the above quote carefully, he's doing the "don't focus on my obvious faux pas, but look at all the good I do" dance. Keep 'em looking at the left hand while the right is busy pickpocketing, I guess.

One can only say, if this is how thorough he is in knowing the company's thrust, just how effective an "advisor" can he be?? I'd have to say it's more revealing about his forked tongue, and his obvious preference for being on the rich side of his "two Americas" - even at the expense of the credit challenged.

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