April 21st, 2008

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  • russj

Look who's profiting from the mortgage crisis!

http://www.washingtonpost.com/wp-dyn/content/article/2008/04/16/AR2008041602027.html

The following big investors netted piles of cash last year, thanks to losses in the sub-prime mortgage industry. How? Through "hedge funds", which operate by shorting, or betting against, subprime mortgage securities and collateralized debt obligations.
  • John Paulson $3.7 billion
  • George Soros - $2.9 billion
  • James Simons - $2.8 billion


More at:
http://www.guardian.co.uk/world/2008/apr/20/usa.subprimecrisis
http://www.independent.ie/business/world/he-bet-on-the-credit-crisis--and-took-home-37bn-last-year-1350342.html
http://news.yahoo.com/s/nm/20080416/bs_nm/hedge_earnings_dc;_ylt=AveC6w5_3yaNxAC32cgvEGnv5rEF