John Paulson: The Man Who Made Too Much
January 7, 2009 | Center for Responsible Lending | Comments (0)A new article in Conde Nast’s Portfolio details the windfall profits of Center for Responsible Lending contributor, John Paulson:
“Hedge fund manager John Paulson has profited more than anyone else from the financial crisis. His $3.7 billion payday in 2007 broke every record, and he made it all by betting against homeowners, shareholders, and the rest of us. Now he’s paying the price.”
The Credit Union times detailed Paulson’s relationship with CRL (and the resulting Congressional hearing):
“In October, he gave $15 million to the Center For Responsible Lending, which has been leading the charge in lobbying for a law that would let bankruptcy judges restructure mortgage loans. By forcing servicers to accept lowered monthly payments, market values would likely fall even further, and Mr. Paulson would most definitely benefit financially.”
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