Word: paulsonã
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...April 16, the SEC alleged that Goldman misrepresented to investors the involvement of hedge fund manager John A. Paulson??€”who famously made billions through bearish bets on the housing market in 2007—in assembling a portfolio of mortgage-backed securities that he later bet against...
...would also need to prove that Goldman had a duty to disclose Paulson??€™s role, and that buyers incurred damages as a result of his involvement...
...School Professor Allen Ferrell noted that Paulson??€™s actions likely did not constitute wrongdoing, if the hedge fund was independently speculating on future market movements—which is not fraudulent behavior...
...Business School Professor Michael D. Kimbrough questioned whether Paulson??€™s involvement could be considered proper business practice...
Kimbrough suggested that some people doubt whether the buyers’ decision to enter the transaction would have been impacted by the knowledge of Paulson??€™s strategy to short the securities, since Paulson had not yet gained recognition for his foresight on falling housing prices...