Author Topic: John Paulson and George Soros Score Big Selling OneWest Bank For $3.4 Billion  (Read 269 times)

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Offline flowers

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A gang made up of some of Wall Street’s biggest names and formed by former Goldman Sachs partner Steve Mnuchin is set to realize a big score from the sale of OneWest Bank to CIT Group for $3.4 billion.

Hedge fund billionaires John Paulson and George Soros were part of the group that together with buyout baron Christopher Flowers and billionaire Michael Dell bought the assets in 2009 of the former IndyMac, one of the nation’s largest bank failures ever, from the Federal Deposit Insurance Corporation, which had seized its assets. The group paid $1.55 billion for the bank in the teeth of the financial crisis. The deal to sell the bank to CIT Group was announced Tuesday.

For Paulson, the gains from OneWest will be felt in his Recovery Fund, which holds Paulson’s stake in the Pasadena, Calif., lender. The bank has already paid its big-name backers $500 million in dividends.

Online Oceander

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profiting from the disasters created by the very political policies they support.  Talk about crony capitalism.
I won't vote for Clinton, but I cannot vote for Trump.  How could I explain to my daughter why I supported a man who sees her as nothing more than a piece of meat, a piece of a$$ for him to grope for his own private pleasure.

"Trump supporter" - the very definition of an SFI

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