Investor Who Made Billions Is Not Target of Suit

Investor Who Made Billions Is Not Target of Suit

www.nytimes.com

Eager to increase his bets against subprime mortgages, the investor, John A. Paulson, canvassed firm after firm, looking for new ways to profit from home loans that he was sure would go sour.

Only a few investment banks agreed to help him. One was Deutsche Bank. The other was the mighty Goldman Sachs.

Mr. Paulson struck gold. His prescience made him billions and transformed him from a relative nobody into something of a celebrity on Wall Street and in Washington.

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I find it tremendously interesting that the gentlemen who achieved 'celebrity' status in Washington D.C> and Wallstreet managed to avoid scrutiny.

It's sort of as if some people were simply 'beyond' the pall of a mundane investigation into the economic destruction of a community (or communities) because of how successful he was.

This issue is not going away, I think, and I wonder how many want it to....

Related, and more than mildly interesting is another press piece about the ongoing chaos in the halls of power populated by our Captains of Financial Industry:

Top Goldman Leaders Said to Have Overseen Mortgage Unit

(visit the link for the full news article)

[edit on 19-4-2010 by Maxmars]

I can't believe that they aren't prosecuting this guy!! he has to be on the top ten list of rats involved in this and I do believe I read where they said they weren't intending on prosecuting him....
doesn't make sense, since seems to have not only defrauded the people (and countries, states, local govt's., pension funds, companies, and whatever else he could find) but also goldman sachs. would love to know just where all this money ended up at.

Originally posted by dawnstar
I can't believe that they aren't prosecuting this guy!! he has to be on the top ten list of rats involved in this and I do believe I read where they said they weren't intending on prosecuting him....
doesn't make sense, since seems to have not only defrauded the people (and countries, states, local govt's., pension funds, companies, and whatever else he could find) but also goldman sachs. would love to know just where all this money ended up at.

You know, that question:

"Where the hell is all the money going?"

Has been haunting me for years. I mean, yes, I know it's not "real" but it IS what we use, and it IS the 'measure' of worth for the entire planet (according to them.)

So you tally it all up and find that Trillions are 'missing' ostensibly in someone's 'pocket'.

Where DID it go? And why?

reply to post by Maxmars


Goldman Sachs has been the revolving door for many of these men who skirt the bounds of justice. It seems they are very cunning, and it is almost as if they believe they have Washington by the tail.
Oh...wait...they do.

Oct. 20 (Bloomberg) -- Former U.S. Treasury Secretary Henry Paulson met privately with Goldman Sachs Group Inc.’s board in Moscow last year and kept the occasion off his official calendar, according to a new book about the financial crisis.

Paulson, who was chief executive officer of Goldman Sachs before taking the Treasury post in 2006, arranged the meeting when he realized he’d be in the Russian city on business at the same time as the New York-based firm’s board was meeting there, according to Andrew Ross Sorkin’s“Too Big to Fail.”

In his almost two years leading the Treasury Department, Paulson had only had one other private event with a company’s board, attending a cocktail party hosted by BlackRock Inc., according to the book. The meeting with Goldman’s board in late June 2008 was deemed a “social event” to ensure it didn’t violate U.S. government ethics rules, the book said. Still, Paulson aide Jim Wilkinson asked John Rogers, the firm’s chief of staff, to keep the plans quiet, the book says.

In the meeting at the Moscow Marriott Grand Hotel, Paulson shared stories about his experience at Treasury and gave the Goldman Sachs directors his views on the economy, the book says.

www.bloomberg.com...