Evanston-based Magnetar denies CDO accusations

Posted April 20, 2010 at 11:39 a.m.

From Bloomberg | Magnetar Capital, the Evanston-based $7 billion hedge-fund firm that made money in 2007 from wagers on subprime-housing debt, told investors it didn’t help banks create mortgage-linked investments “built to fail.” In a letter, the firm claimed that “There was no embedded view regarding the direction of housing prices, the rate of mortgage defaults or the subprime-mortgage market generally.”

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