Did Mr. Paulson or Paulson & Company come in wanting to go short?
You think, hey, give the less flexible folks to our customers. We will save the more flexible for ourselves.
You knew Paulson was on the short side of the trade. Is that correct?
You are trying to shift the risk of that junk to somebody else.
So you would agree that you were in a net short position for most of the year? Would you agree to that?
That total is consistently below zero, home, throughout the whole year.
You guys were profitable, and you were profitable because you had invested heavily in shorts.
And your own person said they are too smart to buy this kind of junk.
Do you see where the second paragraph says, 'At the end of the meeting, the Paulson team'--this is you speaking--'told us that they were hap...
You were consistently short. As a matter of fact, you were very short.
Billions seem large to a lot of folks who have lost their homes.