Who Cares What Paulson Was Doing?
Paulson made billions on the subprime fallout. I don’t think anyone would care about Paulson or his alleged prowess in subprime BEFORE the collapse. It’s only after the fact that anyone would care and that’s because he made $$$ on the trade.
The exchange is key in that the Securities and Exchange Commission is charging that the failure to disclose Paulson’s position was a “material” factor that could have caused both ACA and German Bank IKB to back out of the CDO investment. When the CDO failed, Paulson reaped a gain of more than $900 million, the government has said.
I don’t know why ACA or German Bank IKB would care what anyone would think about an investment they were considering…they were acting in their own best interests and they got it terribly wrong.
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