A Single Individual, John Paulson, Made Enough Money Last Year to Pay the Salaries of 100,000 Teache

[Donnachaidh]

http://blog.buzzflash.com/node/13006

Go Berserk, Young Man

And young woman, of course. You're being cheated by a free-market system that is out of control.

Consider that a single individual (John Paulson) made enough money last year to pay the salaries of 100,000 teachers.

100,000 jobs. All those potential salaries ($50,000 each) diverted to a man who started making his billions by betting against the U.S. mortgage market.


More at the link --

[orpupilofnature57]

1. Shrub made millionaires billionaires ,Clinton made more new millionaires

in American history.How?

[wordpix]

2. isn't this the same guy involved in the Goldman Sachs mortgage scandal?

Responsible for having Goldman both invest in bad mortgage loans and bet against them, right? :shrug:

[Jefferson23]

3. snip* Paulson, who made billions during the economic crisis by shorting mortgage -backed securities

now owns 1.5 million shares in the company as of June 30, according to regulatory filings.

That's an increase of 1.36 million shares over what his fund, Paulson & Co., reported at the end of the first quarter.



http://www.newsobserver.com/2011/09/13/1483750/paulson-increases-stake-in-salix.html

[pscot]

4. Sort of sucks all the air out of the room

[girl gone mad]

5. Keeping a few politicians in your back pocket..

pays dividends.

[rurallib]

6. once upon a time under Eisenhower he would have actually been taxed

to pay for @ 90,000 of those teachers.

[dkf]

7. From what I understand most of it was investment gains, not compensation

Are we upset the stock market regained some of it's losses?

Teachers pension plans probably made decent gains also which will allow them to retire. Do we only applaud investment gains for teachers perhaps?

[TheMadMonk]

8. Depends on how you define "investment gains".

It's a good bet that he made the money through foreknowledge that the stock and housing markets had been pumped to the limits and were set to crash.

Elsewhere in the world and/or in time, his winning "investments" in everyone else's missery would have been the subject of great scrutiny.

[dkf]

9. Last year wouldn't have been a good bet for shorts.

And I bet he made a lot of money for people who want to retire.

What Goldman did is the really bad part. They were the ones selling bad mortgages to their trusting clients in 07-09.