Lawyers for Michael Lewis, the author of “Liar’s Poker” and “Moneyball,” asked a judge to dismiss a lawsuit by a bond manager who claimed Lewis’s book about subprime mortgage investing, “The Big Short,” defamed him.
Steven Eisman , the investor known for betting against for-profit schools and subprime mortgages, is leaving FrontPoint Partners LLC and plans to start his own firm, according to two people briefed on the matter.
Steven Eisman , the hedge-fund manager whose bet against the housing market was chronicled in a best- selling book, will testify before the U.S. Senate after saying for-profit colleges are pushing students to take on government loans they can’t repay.
Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co.
Genworth Financial Inc. Chief Executive Officer Michael Fraizer, whose bets on U.S. housing lost about $1.8 billion for the insurer since 2008, is losing credibility with bondholders and shareholders after misjudging Australia’s real estate market.
In early 2007, with subprime-mortgage defaults soaring, Wing F. Chau teamed with Merrill Lynch & Co. to create a $300 million pool of assets that shared a name with the main character in The Matrix movies who discovers reality isn’t what it seems.