Iowans affected by lender linked to Edwards (Des Moines Register)

[jefferson_dem]

Iowans affected by lender linked to Edwards
While he worked for an equity company that dealt in mortgages, those lenders foreclosed on 107 homes in the state. He says his anti-poverty stance isn't affected.

By THOMAS BEAUMONT
REGISTER STAFF WRITER

September 27, 2007

A total of 107 Iowa homeowners were foreclosed upon by subprime mortgage companies owned by Fortress Investment Group while Democratic presidential candidate John Edwards was associated with the equity company, court records show.

Fortress foreclosures have occurred in other states, but the Iowa cases bring Edwards' tie to subprime lending to the leadoff presidential nominating state, where he has staked his political future.

Most Iowa Democratic activists interviewed by The Des Moines Register say the foreclosures by themselves do not undermine Edwards' anti-poverty message. However, some say he should have known that his tie to Fortress, which paid him $479,500 for 14 months of work, would be scrutinized in the campaign.

Some former Edwards supporters in Iowa say the Fortress link is another reminder of his personal activities and opulent lifestyle, which they find troubling.

Edwards said the focus of his public work in the past 2years outweighs any questions about his sincerity.

<SNIP>

http://www.altoonaherald.com/apps/pbcs.dll/article?AID=/20070927/NEWS09/709270393

[bigdarryl]

1. BULLSHIT hit peice on Edwards

[jefferson_dem]

2. Maybe...but it's written in the pages of the most-circulated, most powerful rag in the state.

What exactly makes it a "hit piece"?

[Inspired]

3. The Altoona Herald?

Never heard of it.

[jefferson_dem]

4. Looks to be a mirror site for The Register - perhaps to get around a registration firewall.

You can see the story listed on The Register's "news" page here -->
http://desmoinesregister.com/apps/pbcs.dll/section?category=NEWS

[karynnj]

10. Also a paper that endorsed him in 2004

and has favored him at least to some degree this time.

[Peregrine Took]

7. Hmmmmmm.....I wonder who's behind this leak? n/t

[ChiciB1]

5. He Talked About It On MTV Today... Is Not Connected With Them

now but I don't have a link. I will say this though... my husband an I saved money through a 401K and rolled it all over to Morgan Stanley to handle it for us. Since that time I have found out a lot of things about Morgan Stanley that I really really don't like. Unfortunately, I can't divest myself from them. I'm not rich and it would cost money to do it.

I'm sure most of us have dealings with some places that we know nothing about. I'm sure many here still shop at Walmart too! I do try to be careful about this stuff, but recently found out about yet another place that I do business with that is bat-shit crazy about The Idiot! What shall I do? I have sorta/kinda avoided it, but it's really impossible to avoid them forever.

I'm a good person, but I KNOW if I was running for office, I WOULD get called on the carpet because of "my association" with them! It's just complications that we run into. I would prefer to shop at Costco, but there isn't one around here... so if I want to buy bulk, I go to BJ's, but I don't know much about them, because I don't think I want to! It's my only alternative to Sam's!

I know I'm going round and round, but it's the same thing on a smaller level! I'd be in the hoose-gow by now if all my associations were made public!

And just one more thing... you can bet that every other candidate has their Achilles heel too!

[MannyGoldstein]

8. Do You Work For Morgan Stanley? Do They Have Only One Business?

It's one thing to hire a huge conglomerate to doa job for you - it's unreasonable to think that you's know every aspect of their business.

Edwards worked for a company whose prime business was predatory lending - and then claimed that, while he worked there, he didn't know what their business was. It's like if you worked for Blackwater in a senior management position and were shocked to find that their work involved people who shoot at other people.

[ChiciB1]

11. Blackwater & Predatory Lending... The Guy Is Running For POTUS...

From what I heard Chuck Todd & Stretch say about Edwards last night to Tweety, about those in D.C. hating Edwards, I suppose I've become cynical enough to think I smell "skunk" from someone.

Sounds defensive, and I get your point about me not being aware of the inner workings of a huge conglomerate, just the same I'm not sure your answer is correct either. And I know you think I have blinders on, but it has been said on National TV that "the power brokers" won't let him become the nominee! They hate him in D.C. for whatever reason, and what I've seen of D.C. and Congress I'm "hedging" (?) my bets. If you get my drift.

I'm beginning to see a clear pattern here, one that used to irk me a lot, and now I suspect will NEVER stop! I don't think I'm so stupid when I see hints of things concerning Hillary that get "some" attention and then sort of go away.

Some would have us think that he's tantamount to a mass murderer or at the very least entangled in bribery at the highest level!

I'm intelligent enough to have known about what The Idiot Decider and his cohorts were up to BEFORE the 2000 election, way back in 1997 when most people weren't listening. So I find this constant and continual blasting of Edwards rather sinister. The Decider got a pass and he sold his soul a long time ago, but somehow Edwards is worse than him. It is strange.

[ChiciB1]

12. One More Thing... Taking A Look At Who's Posting... I'm Not Going

to squabble with you for the rest of the night. Don't know where you live, but I was up until 3:00 AM this morning, and it's almost 12:00 AM... so I'm going to slink away!

Now, call me a coward too, fellow Democrats!

[1932]

13. "...whose prime business was predatory lending"??? Got a link for that?

[progpen]

14. He claimed that he didn't know what they did?

I don't remember seeing a quote saying that anywhere.

[progpen]

15. Sub prime lending...

is not, nor has it ever been evil in and of itself.

It is only recently that sub prime lending has gained public attention because it was being misused by many (not all) lenders and some (not all) consumers. When sub prime lending is done correctly, it plays an important part in our economy and is a means for people who would otherwise not be able to buy a home, to do so, build up their credit, and refinance with a lower rate. Nothing evil or even questionable about that.

To say that Edwards is guilty of something because he worked for a company that was associated with sub prime lending is quite a stretch, and just shows how desperate some people are to pin something (anything) on Edwards.

[geek tragedy]

6. Maybe they can seek public financing. eom

[FrenchieCat]

9. But only as a "Moral Imperative"......

mind you. Can't have anything to do with money or the lack thereof. :sarcasm:

[progpen]

16. This seems to be a desperate move...

by those who dislike Edwards.