1251 6th Ave - Paulson

Description

John Paulson (Hedge Fund)
http://dealbook.nytimes.com/2012/09/11/wall-streets-sits-courtside-for-a-marathon-match/

"John Paulson, the billionaire hedge fund manager, will be forever known on Wall Street as the man who made nearly billions shorting subprime mortgages."

John Paulson: Goldman Scandal's Hero or Villain?
http://realestate.aol.com/blog/2010/04/23/john-paulson-goldman-scandals-hero-or-villain/

"As the very smart manager of a hedge fund bearing his name, Paulson and Co., he created a controversial investment vehicle called the Abacus Fund for Goldman Sachs. The Abacus Fund bought risky mortgage loans and literally bet that they (and the homeowners who held them) would default to the detriment of investors and consumers ... while Goldman and Paulson profited immensely.

The Abacus Fund was designed from the blueprint of another hedge fund called Magnetar. In a nutshell, Magnetar created dogs -- securities (like Abacus) -- and sold them to investors and made money when a security defaulted en masse.

It appears Congress and the SEC will parade this man in front of the world and attempt to label him as an enabler to the worst financial crisis of our generation, as evidenced by the SEC's lawsuit against Goldman Sachs. Some rightfully question the timing of the suit as part of a greater political agenda for tightening financial oversight on Wall Street. In any case, an epic blame-game battle is about to begin. "