Wednesday, August 31, 2016

Meet Billionaire Hedge Fund Crook John Paulson, Trumpist And Guillotine Candidate Du Jour

>


John Paulson, who has managed to accrue 10 billion lightly taxed dollars for himself, made his fortune in 2007, using credit default swaps to bet against the subprime mortgage market, profiting as people were kicked out of their homes. A few years later he threatened that he would move to Singapore if his taxes went up. Instead he moved to Puerto Rico, where he pays no local or federal capital-gains tax, and no local taxes on dividend or interest income for 20 years. Paulson's contributes primarily to Republicans, although he gives a little to corrupt conservative Democrats as well and his appreciation of Chuck Schumer has seen him pour over $55,000 into the DSCC to help them demolish progressives. Among all the Republicans he maxes out to-- Wall Street whores like Pat Toomey, Marco Rubio, Patrick McHenry, John Faso (Zephyr Teachout's opponent this year), Chris Christie, Kelly Ayotte, Chuck Grassley, Mitch McConnell, Scott Garrett, Roy Blunt, Rand Paul and Rob Portman were some huge checks to one Charles Schumer, easily the most corrupt Democrat in the Senate. He's best known for the $1,000,000 check he wrote to Mitt Romney's SuperPAC and for hundreds of thousands of dollars he's given to the RNC and other GOP committees and PACs.

Recently he signed on to Señor Trumpanzee's economic policy team. the Trumpanzee team only includes 2 actual economists and the rest are just modern day robber barons like Paulson, primarily real estate developers and Wall Street swindlers.


The most eyebrow-raising name on the list is John Paulson, the hedge funder who famously bet the American housing market would flop and subprime mortgages would collapse in value—events more colloquially known as the financial crisis that toppled the U.S. economy in 2007. Paulson’s firm, Paulson & Co., made $15 billion that year, while Paulson himself pocketed about $4 billion, or as the Wall Street Journal put it, $10 million a day.
Paulson is in the news again today because he is one of the monsters behind the Mylan EpiPen scandal.
Right now, price gouging for the EpiPen is putting a lifesaving medication out of reach for thousands of American families, while at the same time helping a manipulative hedge fund billionaire get even richer.

Families shouldn’t have to choose between lifesaving drugs and putting food on the table-- it’s unfair, and it’s morally wrong.

But hedge fund billionaire John Paulson, who is now an economic adviser and big campaign contributor to Donald Trump, seems totally fine with the profiteering-- he’s increased his stake in the corporation that makes the EpiPen to nearly a billion dollars.

Paulson is one of the biggest investors in Mylan Pharmaceutical, which makes the EpiPen, and he’s been a top shareholder since he started investing in the company in 2010.

In just one year, from June 2013 to June 2014-- during the period when Mylan began increasing EpiPen prices most dramatically-- his fund appears to have made around $250 million: a 66% profit on its investment in just one year.

...Denying American families things they need like housing and lifesaving medications don’t seem to bother Paulson.  And his shift from manipulating the housing market towards massive investments in pharmaceuticals-- which has profits higher than any other industry-- has been smooth and effortless.

...Sharp observers agree that even passive investments by activists like Paulson put profit-maximizing pressure on CEOs like Heather Bresch. And John Paulson has proven he wants profits from his investments-- and he doesn’t seem to care about families, children or anyone who stands in his way.
When Paulson started buying share in Mylan the EpiPen price. He's continued buying aggressively as Bresch raised the price north of $600. Hard to imagine a more perfect economic advisor for Mr. Trumpanzee.

Labels: , , , ,

2 Comments:

At 8:35 AM, Anonymous Anonymous said...

Disgusting. Totally disgusting. These oligarchs and billionaires will drive the USA off of a cliff, and take the planet with them. We are in critical need of tax reform and an amendment to take corporate money out of politics. Unfortunately, the situation keeps getting worse and worse. Paulson is an asshole of the first degree. Why didn't Obama go after those responsible for the 2008 crash? (Hmmm. That is a big question.) If he had, Paulson would be in jail. He is a criminal.

 
At 8:37 AM, Anonymous Anonymous said...

Anonymous Anonymous said...
Disgusting. Totally disgusting. These oligarchs and billionaires will drive the USA off of a cliff, and take the planet with them. We are in critical need of tax reform and an amendment to take corporate money out of politics. Unfortunately, the situation keeps getting worse and worse. Paulson is an asshole of the first degree. Why didn't Obama go after those responsible for the 2008 crash? (Hmmm. That is a big question.) If he had, Paulson would be in jail. He is a criminal.

 

Post a Comment

<< Home