The Contrarian Banker Who Avoided Bad Loans... And Is Now Buying Up The Scraps
from the no-gov't-money-needed dept
Of course, now that things have collapsed, he's buying up distressed assets for pennies on the dollar, and wants to buy more, planning to become a huge bank. Oh, and all that government money that's supposed to help those private companies who are buying up these assets? He doesn't qualify for most of it (no more than a token amount that's not even worth taking). Instead, it's really designed for the folks who screwed things up in the first place. This guy -- who actually saw what was going on, and prepared for it, now has to compete against those who screwed up and are being handed billions by the government.