Center for Responsible Lending funder made $3.7 billion last year
April 17, 2008 | Center for Responsible Lending, industry critics | Comments (0)Center for Responsible Lending’s favorite hedge fund manager, John Paulson of the Paulson & Company, bet against homeowners and won according to this story. From the story:
“Paulson acquired his money by betting against the subprime mortgage market, using a complicated system that increased his earnings as the value of financial instruments bundling the mortgages dropped.”
As the story goes on to say, the Center for Responsible Lending took a $15 million contribution from this guy. Shouldn’t CRL be criticizing this guy, not sharing in his profits?
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