{"id":5815,"date":"2007-03-16T00:00:00","date_gmt":"2007-03-16T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-continue-bets-on-mortgage-implosions-banknet-360","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2007\/hedge-funds-continue-bets-on-mortgage-implosions-banknet-360.html","title":{"rendered":"Hedge Funds Continue Bets on Mortgage Implosions &#8211; BankNet 360"},"content":{"rendered":"<p>  <span class=\"newsAbstractText\">A hedge fund that has profited mightily from the downturn in the nonprime mortgage market said the implosion is just beginning and that the number of loan defaults  will &#8220;skyrocket,&#8221; according to a letter to the firm&#8217;s investors.<\/p>\n<p>  The letter was written by <a href=\"http:\/\/www.paulsonco.com\/\">Paulson &amp; Co.<\/a>, an $11 billion hedge fund, <a href=\"http:\/\/www.banknet360.com\/news\/NewsAbstract.do?na_id=7905\">which was  reported to have earned 67%<\/a> last month in one of its funds by betting on a downturn.<\/p>\n<p>  Bankruptcy is an inevitability for most monoline originators, according to Paulson, and the asset-backed securitization market is likely to &#8220;disappear,&#8221; the firm said in its letter.<\/span><\/p>\n<p>  &nbsp;<\/p>\n<p>  <strong><a href=  \"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/5-0&amp;fd=R&amp;url=http:\/\/www.banknet360.com\/news\/NewsAbstract.do%3Fna_id%3D7954%26service_id%3D1%26bi_id%3D&amp;cid=0&amp;ei=o476RdqALIygsQH_r-CmCw\">  Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A hedge fund that has profited mightily from the downturn in the nonprime mortgage market said the implosion is just beginning and that the number of loan defaults will &#8220;skyrocket,&#8221; according to a letter to the firm&#8217;s investors. The letter [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5815","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5815","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5815"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5815\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}