At the Pinnacle of Capitalism, Now Bad Deed Goes Unrewarded
This is rich. John Paulson who made billions betting against the subprime mortgages is now rewarding Alan Greenspan, who did so much to make it happen.
Anon. 2009. “Overheard.” Wall Street Journal (13 November): p. C 14.http://online.wsj.com/article/SB10001424052748703811604574532093404390218.html
“John Paulson already has hired Alan Greenspan as an adviser. Now the hedge-fund honcho is giving $20 million to business school NYU Stern to endow two faculty chairs, including the Alan Greenspan Chair in Economics. Mr. Paulson, who made billions betting against subprime mortgages when the credit bubble burst, and the former Fed chairman are NYU graduates. One subject worth studying? The dangers inherent in keeping interest rates too low for too long.”