OWS is terribly misguided. Like everyone said, he's an investor. He didn't give toxic loans, he didn't take TARP money, he worked in the industry a long time and struck it big only about 5 yrs ago. Don't paint all financiers with the same broad brush. It's not fair, and it makes you look whiny rather than people with a real cause.
...it's like betting on a football game. you research the teams and bet against the home team. they lose. BUT you didn't CAUSE them to lose, you hoped they would lose so you can make money. the "house" (the party that pays) is the investment banks, not the people with mortgages. that's all Paulson did. by the way, his fund gained 10 billion that year. he took home 5 for himself.
..he would lose the amount of his premiums, hundreds of millions. the greedy ones are the investment banks who dreamed up these risky securities to make more money for their firms. when the mortgages tanked, the banks lost their shirt because they had to payout on those policies. they went belly up. paulson had the foresight (through years of hard work and analysis) to predict a housing collapse. he did not cause a collapse. these kids on the streets have no idea what they're protesting about!!!
paulson is an investor. the purpose of investing is to get returns. paulson made billions legally and ethically. He bought CDOs which are slices of pools of risky mortgages. He did not create these securities, he bought them. He also bought insurance policies on those slices of mortgages. again, he did not create these, he just bought them. he paid premiums (in the hundreds of millions) and in the event the mortgages tanked, he'd win a huge payout. if they remained stable or went up,......
I agree with skier27 on this. And I also admire how well John Paulson does his job and I also respect him for how much he has made for clients and himself. He has wonderful ideas for the market. I really wish people would stop complaining about knowledgeable people and start trying to make their own life work out for themselves instead of expecting money to be just given to them with no questions asked. I think earning your money is the best way to go because you become more proud of yourself.
Why did you guys go to Paulson's house? He's a hedge fund manager, his job is to make money for his clients, which he is good at. He manages 35 billion, 40% of which is his own money, so 5 billion proportianally is not an unreasonable amount. He doesn't set the tax rates, and he is not working at a bank packaging up faulty derivatives to dupe investors. Wouldn't it be more pertinent to protest in front of the gov and the banks. Or get off unemployment assistance and start a hedge fund yourself!
@skier27 it is true, he is good at it...if he sold off the sub-prime mortgages too rapidly, he would have collapsed his own market and he would not have made so much money...which was in the millions, daily, during the housing crisis. pretty smart! i think the whole point of the protest is that the financial sector has too much influence over the legislation in this country, which allows people like paulson and his clients to get rich as millions of people lost their homes.
@skier27 lol well not everyone can start their own hedge fund. It costs a lot of money, clients want to see track records from past employments, and you need lots of experts to work for you.
OWS is terribly misguided. Like everyone said, he's an investor. He didn't give toxic loans, he didn't take TARP money, he worked in the industry a long time and struck it big only about 5 yrs ago. Don't paint all financiers with the same broad brush. It's not fair, and it makes you look whiny rather than people with a real cause.
BoxOfOranges84 2 weeks ago
These stupid people, they should stop wasting their time and start focusing their energy on something productive! I completely agree with skier27
Tony10790 2 weeks ago
Comment removed
youwatertubeflaws 1 month ago
...it's like betting on a football game. you research the teams and bet against the home team. they lose. BUT you didn't CAUSE them to lose, you hoped they would lose so you can make money. the "house" (the party that pays) is the investment banks, not the people with mortgages. that's all Paulson did. by the way, his fund gained 10 billion that year. he took home 5 for himself.
avzeolla 1 month ago
..he would lose the amount of his premiums, hundreds of millions. the greedy ones are the investment banks who dreamed up these risky securities to make more money for their firms. when the mortgages tanked, the banks lost their shirt because they had to payout on those policies. they went belly up. paulson had the foresight (through years of hard work and analysis) to predict a housing collapse. he did not cause a collapse. these kids on the streets have no idea what they're protesting about!!!
avzeolla 1 month ago
paulson is an investor. the purpose of investing is to get returns. paulson made billions legally and ethically. He bought CDOs which are slices of pools of risky mortgages. He did not create these securities, he bought them. He also bought insurance policies on those slices of mortgages. again, he did not create these, he just bought them. he paid premiums (in the hundreds of millions) and in the event the mortgages tanked, he'd win a huge payout. if they remained stable or went up,......
avzeolla 1 month ago
I agree with skier27 on this. And I also admire how well John Paulson does his job and I also respect him for how much he has made for clients and himself. He has wonderful ideas for the market. I really wish people would stop complaining about knowledgeable people and start trying to make their own life work out for themselves instead of expecting money to be just given to them with no questions asked. I think earning your money is the best way to go because you become more proud of yourself.
SecretMind1205 1 month ago
as i understand it, he made billions by short-selling subprime mortgages...the more people who lost their homes, the more money he made...
michaelbillypec 2 months ago
@michaelbillypec as i understand it, the more people die, the more money funeral directors make. Fuck funeral directors!
01Ubermensch 2 months ago
@01Ubermensch why? are they giving people rope to hang themselves with?
michaelbillypec 2 months ago
@michaelbillypec so you're criticizing him for being a brilliant investor? That's absurd.
stumpjump2232 1 week ago
$5 billion is not an unreasonable amount. REALLY?
jenam121 4 months ago
Why did you guys go to Paulson's house? He's a hedge fund manager, his job is to make money for his clients, which he is good at. He manages 35 billion, 40% of which is his own money, so 5 billion proportianally is not an unreasonable amount. He doesn't set the tax rates, and he is not working at a bank packaging up faulty derivatives to dupe investors. Wouldn't it be more pertinent to protest in front of the gov and the banks. Or get off unemployment assistance and start a hedge fund yourself!
skier27 4 months ago 15
@skier27 couldn't agree more and I am for the movement
gateguardia 4 months ago
@skier27 it is true, he is good at it...if he sold off the sub-prime mortgages too rapidly, he would have collapsed his own market and he would not have made so much money...which was in the millions, daily, during the housing crisis. pretty smart! i think the whole point of the protest is that the financial sector has too much influence over the legislation in this country, which allows people like paulson and his clients to get rich as millions of people lost their homes.
michaelbillypec 2 months ago
@skier27 lol well not everyone can start their own hedge fund. It costs a lot of money, clients want to see track records from past employments, and you need lots of experts to work for you.
Wiseguyzmoney 1 month ago
John Paulson became a billionaire after 30 years in the business. 30 years ago, he was just like everybody else. It takes hard work.
Tony10790 2 weeks ago
@Tony10790 Definitely.
Wiseguyzmoney 2 weeks ago
pathetic peasants
bearstearn3 5 months ago 8