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Old 06-08-2012, 06:15 PM
 
29,988 posts, read 37,274,467 times
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Chairs: Paulson Buys $49 Million Aspen Palace - CNBC

If you will recall this former Goldman Sachs guy and current hedge fund manager made his fortune shorting the housing market. Tell me again how the Democrats are the party of the poor.

Oh yeah, there was that fraud investigation a couple of years ago too.

Flashback: Hedge fund manager in Goldman Sachs case is major Democratic donor - The Hill's On The Money-
Quote:

Paulson & Co. was mentioned prominently in a fraud action the Securities and Exchange Commission filed against Goldman on Friday.

The SEC alleged that Paulson & Co. participated in a scheme in which Goldman sold subprime residential mortgage-backed securities to investors, such as foreign banks and pension funds, that were expected to lose value.

Paulson & Co. bet heavily against the value of the fund, named Abacus 2007-AC1, which included mortgage bonds it viewed as overvalued, earning millions at the expense of Goldman clients who invested in it.
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