Wednesday, May 12, 2010

Paulson, a Pig in the Poke?

From April 20th

John A. Paulson, once a little known money manager on Wall Street is a criminal genius.  The guy has made millions of dollars!  But he's still a criminal for how he got the money.  He pretty much scammed people into buying into deals he knew they couldn't pay.  Then just tries to use rhetoric to get out of everything, " We were straightforward in our dislike of these securities, but the vast majority of people in the market thought we were dead wrong and openly and aggressively purchased the securities we were selling.”  Do you know what that really means?  We decided to sell a product that had no chance of working and make billions off of it because we knew people we need this product, but really we knew it would cost them.
What Paulson did was scam Goldman and Sachs, Deutsche Bank, and the people of the United States.  I mean theirs no way that he could create literally hundreds of loan pools (a subject I know very little on) and not know that all of them would fail.  This guy was obviously trying to scam people into taking bad deals and the book should be thrown at him for stealing billions of dollars.

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