{"id":41092,"date":"2014-03-12T08:23:30","date_gmt":"2014-03-12T12:23:30","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=41092"},"modified":"2014-03-12T08:23:30","modified_gmt":"2014-03-12T12:23:30","slug":"westhus-reaping-fannie-windfall-to-rival-big-short-mortgages","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2014\/westhus-reaping-fannie-windfall-to-rival-big-short-mortgages.html","title":{"rendered":"Westhus Reaping Fannie Windfall to Rival Big Short: Mortgages"},"content":{"rendered":"<p>Bloomberg &#8211; Todd T. Westhus is poised to join\u00a0George Soros\u00a0and\u00a0John Paulson\u00a0with an unlikely wager.<\/p>\n<p>Soros broke the Bank of England in 1992 by betting on the devaluation of the British pound, netting $1 billion. Paulson took home $15 billion, anticipating the\u00a0collapseof subprime debt that contributed to the financial crisis. Now, Westhus is trying to transform the $9.4 trillion U.S.\u00a0mortgage market. The 38-year-old hedge fund partner was the mastermind of Perry Capital LLC\u2019s 2010 purchase of\u00a0Fannie Mae (FNMA)\u00a0and\u00a0Freddie Mac\u00a0preferred shares at 2 cents on the dollar. Back then, the mortgage giants were just about given up for dead. Today, the companies are profitable and their shares have soared 24-fold.<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/2014-03-10\/westhus-reaping-fannie-windfall-to-rival-big-short-mortgages.html\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Todd T. Westhus is poised to join\u00a0George Soros\u00a0and\u00a0John Paulson\u00a0with an unlikely wager. Soros broke the Bank of England in 1992 by betting on the devaluation of the British pound, netting $1 billion. Paulson took home $15 billion, anticipating [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41092","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=41092"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41092\/revisions"}],"predecessor-version":[{"id":41093,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41092\/revisions\/41093"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=41092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=41092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=41092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}