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News, commentary and opinion on the course of the Housing Bubble. Blogs devoted to this topic are encouraged to add their article to Zimbio for inclusion in the wikizine. All strands of opinion are encouraged with the expectation of a mature and informed level of social and economic analysis. Contributions emphasizing the macroeconomic effects are especially welcome.
Edwards Says He Didn't Know About Subprime Push - ...
Edwards Says He Didn't Know About Subprime Push - May 11, 2007
Excerpt:
"The hedge fund that employed John Edwards markedly expanded its subprime lending business while he worked there, becoming a major player in the high-risk mortgage sector Edwards has pilloried in his presidential campaign.
Edwards said yesterday that he was unaware of the push by the firm, Fortress Investment Group, into subprime lending and that he wishes he had asked more questions before taking the job. The former senator from North Carolina said he had asked Fortress officials whether it was involved in predatory lending practices before taking the job in 2005 and was assured it was not."
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Excerpt:
"The hedge fund that employed John Edwards markedly expanded its subprime lending business while he worked there, becoming a major player in the high-risk mortgage sector Edwards has pilloried in his presidential campaign.
Edwards said yesterday that he was unaware of the push by the firm, Fortress Investment Group, into subprime lending and that he wishes he had asked more questions before taking the job. The former senator from North Carolina said he had asked Fortress officials whether it was involved in predatory lending practices before taking the job in 2005 and was assured it was not."
Read Story
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