Paulson & Co.'s all-star trader John Paulson – the man behind perhaps the biggest trading coup of all time, having racked up an estimated $3.7 billion by betting on the collapse of the U.S. housing market – is raising money for a brand-new fund. But what kind of fund could properly encore the world’s largest payday ever? Something, it turns out, that utilizes Paulson’s deep knowledge of the subprime market and his expectations that the credit crunch could lead to losses of up to $1.3 trillion. It also has a slightly altruistic bent.
more at http://www.bloomberg.com/apps/news?pid=20601087&sid=a4CcrYaAt_vo&refer=home
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