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The Bet That Made Billions
ResumeMillions 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.
You can join the conversation. Tell us what you think — here on this page, on Twitter, and on Facebook.Guest:
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.