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Edwards Linked to Subprime Foreclosures

HeadlineAug 17, 2007

In campaign news, Democratic presidential hopeful John Edwards is facing questions over his ties to an investment group that has foreclosed on subprime loans to victims of Hurricane Katrina. The Wall Street Journal reports Edwards has $16 million invested in his former employer, Fortress Investment Group. Fortress has foreclosed on at least 34 subprime loans made to Katrina victims. Edwards has been one of the most vocal critics of subprime lending on the campaign trail. He says he will divest from any stake in the foreclosures and personally help the foreclosed evacuees.

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