Walking the talk, John Edwards will stop investing in subprime lenders

August 19th, 2007 · 5 Comments

Latinos and blacks are typically charged more for home loans than their white counterparts with similar credit histories. If you flip through a newspaper targetting a minority audience or listen to radio stations that are popular among Latinos and/or blacks, you often find many mortgage companies pushing their products with promises of the lowest rate, quick pre-approvals, and even superfluous gifts for people who buy home loans. As most have learned, these loans have enticing entry points, but after a few years, the rates and payments skyrocket. Now many people caught in subprime mortgages are losing their homes and/or ruining their credit because they cannot keep up with the rising payments. All of this is fueling the subprime mortgage meltdown, but that’s another blog post for another time.

John Edwards has often criticized subprime lenders for fleecing poor Americans. On Friday, he said that he would dump his investments in subprime mortgage companies that have foreclosed on Hurricane Katrina victims. He also proposes federal policies to prohibit mortgages abuses and to assist homeowners at risk of foreclosure or bankruptcy. I respect what he is doing here. John Edwards is putting his money where his mouth is, unlike Mitt Romney whose investments raise human rights issues and even morality dilemmas within his own faith.

Tags: John Edwards · Mitt Romney

5 responses so far ↓

  • 1 The Kaiser // Aug 21, 2007 at 10:51 pm

    Finally a presidential candidate with balls! We want to see more commentaries on John Edwards. He is addressing the concerns of the lower classes in the same manner as RFK did nearly 40 years ago. This is a man of substance and character. The abuses of corporate america have to be curtailed before they completely destroy the families of blue collar America. Know your enemy. Wake up America!

  • 2 Bearguez // Aug 22, 2007 at 12:57 am

    And why isn’t Hillary doing this? Is it because she’s too busy making deals with corporate america so they can continue fleecing those who don’t read books? The main issues destroying this country are not happening in Iraq. That is just a moneymaking scheme for Dubya and Cheney to continue stealing your tax dollars so they can generate wide open opportunity for Halliburton and Unocol Oil. The main issues regarding public education, health insurance, and liveable wages are only being spoken about by this man…John Edwards.

  • 3 MisterR // Aug 22, 2007 at 8:46 pm

    Open your eyes and listen to your brain. Men like this don’t pass this way very often. Support John Edwards, and fulfill the dream Bobby Kennedy had for America.

  • 4 Ruthee // Aug 25, 2007 at 5:54 pm

    As a member of another economically ignored minority group; the one with a 70% unemployment rate I have been a John supporter for many years. The disAbility community will not be ignored by President Edwards and neither will other underrepresented, disenfranchised, ignored people. Afterall, we are PEOPLE first and members of our respective groups second. John knows this.

    We must fight harder to get the message out to support John.

    Yeah John!!!!

  • 5 Michaelr // Aug 30, 2007 at 5:35 am

    Right on Ruthee! Get out the vote!

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