Monday, August 20, 2007

Edwards’ subprime talk isn’t convincing

Especially since he was first informed that his former employer and still invested private equity firm, Fortress Capital, owned not just one but two subprime lenders, back in May. And claiming there’s a difference between subprime loans and predatory ones is laughable.

Update: Let me specify that I agree with David, in comments, that not all subprimes are predatory. But, Edwards could arguably be seen as claiming none of them are, and that's just not true. Subprimes being extended to people like Katrina victims who may not even know yet how much their insurer is going to pay on a 60-year-old house seems pretty predatory to me.