CRL’s connection to Goldman-Sachs scandal
April 16, 2010 | Center for Responsible Lending, federal legislation, industry | Comments (0)John Paulson, the hedge fund gazillionaire, who shorted the subprime market and who gave Center for Responsible Lending $15 million, is mentioned in the SEC case against Goldman Sachs. From the Huffington Post:
The SEC claims Goldman Sachs and one of its top officers misled investors by not disclosing that hedge fund manager John Pauson, who made billions betting against the housing market, selected the assets that went into a complex security called “Abacaus.”
Paulson & Co. is one of the world’s largest hedge funds, and paid Goldman roughly $15 million for structuring these deals in 2007.
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