Paulson fund bought swaps after 2005 concerns about underwriting

Thu Nov 13, 2008 5:31pm GMT
 
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WASHINGTON (Reuters) - John Alfred Paulson, president of hedge fund Paulson & Co Inc, testified at a U.S. House Oversight and Government Reform Committee hearing on Thursday:

* Says he become concerned about weak underwriting standards in 2005, and bought CDS to help protect investments.

 
Detail showing a commercial U.S. Dollar rate against British Sterling is displayed in central London in this file photo December 1, 2006.  REUTERS/Toby Melville
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