Two Americas: His and Ours

August 18, 2007 on 1:26 pm

Populist non-candidate John Edwards has little appeal to anyone who believes in free markets. But his spectacular hypocrisy is something to behold for all of us. Today, he’s been exposed as a fraud once more.

As a presidential candidate, Democrat John Edwards has regularly attacked subprime lenders, particularly those that have filed foreclosure suits against victims of Hurricane Katrina. But as an investor, Mr. Edwards has ties to lenders foreclosing on Katrina victims.

Not just “ties.” This is about millions of dollars. I’m at a disadvantage, of course, as I’m on the wrong side of Two Americas. But here’s a rundown:

     1. Edwards invested $15 million in a hedge fund.

     2. Those tied to this hedge fund have threatened to foreclose on New Orleans home owners.

     3. Hedge fund pays Edwards $500,000 as an adviser.

     4. Hedge Fund executives give more than $150,000 to Edwards’ campaign.

 

Now, before we have the customary attacks on the media (can you imagine? the imperialist New York Post and Wall Street Journal broke these stories!) to defend this guy – Edwards admitted it happened, “I will not have my family’s money involved in these firms that are foreclosing on people in New Orleans,” he said while on the campaign trial in Des Moines, Iowa.

 

Obviously, Edwards will be forgiven. He cares. He cares about children. He hurts for the poor. His connections to this company were also reported in May. How much does he care?

 

Fortunately, Edwards’ faux populism doesn’t (yet) resonate in this country.

 

(Cross-posted at Gang of Four)