Millions of Americans have seen their finances destroyed in the Great Recession. Not John Paulson.
In the frenzied run-up to Wall Street’s meltdown, Paulson, a hedge fund investor, bet everything against the American housing market. Bet huge on its collapse. And won, on a colossal scale — fifteen billion dollars in a single year.
It was the biggest, richest single trading play in history. And it was done betting against the homeowners of America.
A new book by the Wall Street Journal's Gregory Zuckerman tells the inside story.
This Hour, On Point: how billions were made in a single bet on the meltdown of the American housing market.
Gregory Zuckerman covers hedge funds and investing for The Wall Street Journal, where he writes the “Heard on the Street Column.” His new book is “The Greatest Trade Ever: The Behind-The-Scenes Story of How John Paulson Defied Wall Street and Made Financial History.”
This program aired on December 1, 2009.