Monday, 30 March 2015
Last updated 3 hours ago
Mar 26 2014 | 1:34pm ET
Paulson & Co. made billions betting against mortgage-backed securities. Now, it’s hoping to make billions more suing the banks that issued them.
The New York-based hedge fund has acquired a “significant” minority stake in ResCap Liquidating Trust, which took over the claims from subprime mortgage firm Residential Capital. Paulson was a major creditor of ResCap.
Paulson has one of the five seats on the board of the trust, which has filed lawsuits totaling $9 billion. The hedge fund acquired its first stake in the trust by forgiving debt, and the rest in December, buying it from MBIA.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…