Edwards to End Investments With Lenders
Excerpt:
""I will not have my family's money involved in these firms that are foreclosing on people in New Orleans," he told The Associated Press.
Edwards has reported $29.5 million in assets, more than half of which are invested in the hedge fund Fortress Investment Group., a company that paid him nearly half a million dollars last year for consulting advice.
Fortress has investments in lenders that offer subprime mortgages, higher priced loans for borrowers considered greater risks. The Wall Street Journal on Friday identified 34 New Orleans homeowners who face foreclosure actions from lenders connected to Fortress."
http://www.huffingtonpost.com/huff-wires/20070817/edwards-foreclosure/
Saturday
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