http://blogs.forbes.com/teribuhl/2010/10/19/bank-of-america-woes-havent-put-paulson-trade-in-the-red/
No John's not worried, the Federal Reserve is going to rescue the elite at the expense of the taxpayer.
And in the mean time the White House stalls until the end of the year reviewing if there is really even a problem.
More bogus bullshit by the pukes in power.
FORBES billionaire John Paulson, of hedge fund Paulson & Co, took a big hit on monthly returns in his Recovery Fund today. Why? Because the Street’s fear of billions in mortgage loans being forced back onto Bank of America smacked the North Carolina bank in the face today after the NY Fed announced it was joining bondholders in a much speculated lawsuit. Paulson holds a over 167 million shares in BofA as a favored long trade he set up over a year ago.
What Paulson and Tepper are likely really interested in is what role with the Fed takes to buy any toxic loans banks like BofA might be forced to ‘put back’ on their books. You see analysts think the government doesn’t want banks to be forced to raise more capital, which could happen if they have to take on billions in garbage mortgage loans. They want the banks to EARN through their problems. As a result they are likely already negotiating in backroom conversations how the Fed will engineer their own buy of whatever troubled ‘put back’ loans our consumer banks get hit with.
