Anthony trade is the latest National Basketball Association action

An All-Star Game and various skills competitions occurred over Presidents’ Day weekend, but it was a roster move that had National Basketball Association fans most excited. Carmelo Anthony has been shipped to the N.Y. Knicks as the axis of a three-team, twelve-player trade. Yet, the gallery of doubters remain, reports ESPN and The Sporting News. The price the Knicks paid for Anthony might have been too severe, as a hard salary cap might be in the league’s immediate future.

12 players involved in Carmelo Anthony trade

The NY Knicks had to give the Denver Nuggets some major talent in order to be able to get All-Star caliber talent Carmelo Anthony. The New York Knicks sent versatile swingman Wilson Chandler, cat-quick point guard Raymond Felton, 7-foot-1 center Timofey Mozgov and fiery large man with a fine outside touch, Danilo Gallinari, to Denver. Anthony, Chauncey Billups, Shelden Williams, Anthony Carter and Renaldo Balkman were all sent by Denver.

Payroll reasons meant that Minnesota Timberwolves were also involved. This just had to be part of the trade. Minnesota sent passing land disruptor Corey Brewer to the Knicks for inside scorers Anthony Randolph and Eddy Curry.

What this implies for the Knicks

Michael Wilbon explained that the Knicks seem desperate enough to make the Anthony trade. It could possibly be really good for Anthony, Amare Soudemire and Chauncey Billups; to all be on the team. It might be just as bad though. The Knicks would like to show followers the turnaround this season is real. The Boston Celtics, Chicago Bulls or even Miami Heat will be beat in a seven-game Easter Conference playoff series that the N.Y. Knicks could be attending with Carmelo Anthony.

However, with a new CBA coming soon – which could reportedly consist of a hard salary cap – it might not be possible to sign New Orleans’ Chris Paul as a free agent after next season. The Knicks will need a good point guard to take Billups’ place, as he is both long in the tooth and not eager to play under the harsh lights of Madison Square Garden. A good pick would be Utah Jazz's Paul or Deron Williams. Nevertheless, the cap would make it hard to pull out that kind of money.

Articles cited

ESPN

sports.espn.go.com/nba/news/story?page=wilbon/110222

The Sporting News

sportingnews.com/nba/feed/2010-08/carmelos-contact

CBS’s Lauren Shehadi on the Carmelo trade

youtube.com/watch?v=-UfmX6GVPTc

Choosing an iPhone - AT&T beats Verizon in 3G network speed examination

AT&T iPhones might have connectivity issues, but examination results indicate that iPhones on AT&T’s 3G network have quicker connections than Verizon iPhones. In a speed comparison of 3G networks, iPhones from AT&T transferred data two times quicker than Verizon iPhones. Verizon iPhones may be much slower than iPhones on AT&T’s 3G network, however with regards to dependability, AT&T iPhones dropped calls during the tests, just as people anticipated they would. Source of article – Choosing an iPhone – AT and T beats Verizon in 3G network speed test by MoneyBlogNewz.

AT&T iPhone outruns Verizon

Dropped calls have become AT&T's iPhone hallmark, but iPhone users who place a premium on network speed should think twice before switching to Verizon. Ookla, creators of the speedtest.net broadband test, crunched the numbers from AT&T and Verizon iPhone connecting to the Speedtest.net app. In the test, data transfers for AT&T were two times as fast as those from Verizon. This was done on iPhones too. Ookla compiled the speed test results from 42,000 AT&T iPhones and 14,000 Verizon iPhones around the U.S. The users ran the tests multiple times. That means about 106,000 AT&T tests were done with only 40,000 Verizon iPhone tests being done.

Information on the Verizon iPhone examinations

About 1,768 kbps for downloads and 730 kbps for uploads was the speed for AT&T iPhones. The Verizon iPhone averaged 846 kbps for downloads and 606 kbps for uploads. Verizon iPhones are more dependable although AT&T iPhones might have a greater speed. Other independent reviewers reported that at times AT&T iPhones could not complete the test because they dropped the connection. The connection was maintained in all Verizon iPhone tests although the connection was slower. The companies both know each others' weaknesses. This is shown in the advertising wars. AT&T touts "the nation's fastest 3G network." Verizon touts "America's Largest and Most Reliable Wireless Network."

The best iPhone to choose

Think about how you’ll use your system probably the most before choosing between AT&T and Verizon for your iPhone. If media consumption is a priority, AT&T would be more satisfying. Many would prefer just to get something trustworthy. Go with Verizon then. Want to see how fast your iPhone's 3G network is? Try using the Speedtest.net app for it. With the iPhone, you are able to get the Speedtest.net app for free. Go to the Apple App Store to do this.

Citations

Wired

wired.com/gadgetlab/2011/02/iphone-speedtest/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wired%2Findex+%28Wired%3A+Index+3+%28Top+Stories+2%29%29&utm_content=Google+Reader

NPR

npr.org/blogs/thetwo-way/2011/02/17/133849171/on-the-iphone-at-t-network-is-faster-than-verizons

MSNBC

msnbc.msn.com/id/41485079/ns/technology_and_science-wireless/

Unbankable NV companies targeted by new microlending program

A new program targeting small businesses in NV has started. The Rural NV Development Corp. is administering the program. The United States Department of Agriculture-funded program targets businesses that couldn't otherwise qualify for loans. One-fifth of the money has already been handed out. This could help people stay away from payday lenders if they can get the financing elsewhere.

Getting a rural development loan in Reno, NV

A new "microlending" program will begin because of a $500,000 grant that the United States DOA is funding. Bad credit loans for Reno and Reno-area companies could be funded due to the USDA Rural Microentrepreneur Assistance Program being started. The loans are being given to companies that were not able to get traditional loans from banks. Up to $50,000 per business will be given. The fixed-rate loans charge between 10 and 12 percent interest and must be paid back in five years.

Ways to qualify for bad credit business loans in Reno

In order to qualify for the Rural Nevada Development Corp. loans, a business has to meet several criteria. A business has to have less than $1 million in gross revenue per year and fewer than 10 employees. Traditional loan financing has to have been applied for by the business that got denied. Businesses around Reno, Carson City, Las Vegas and India Reservation areas can get the money. There is $500,000 allotted for these loans in Nevada, and $100,000 was handed out within the first five days of the program. It is expected the $500,000 won't last long. It will take a month at the longest to distribute it all.

What you need to know about microfinance

“Microfinance” and “microlending” are becoming popular terms. Most microfinance programs lend less than this Reno loan program even though "microlending" is what the United States Department of Agriculture is calling it. Usually microfinancing is for those who do not make very much money. They have very low income. Microlending typically comes in amounts around $1,000 — making the RNDC “microlending” program comparatively gigantic. Most microlending from developed countries to creating countries is through private individuals, but there’s a “hole” in the credit industry for businesses without good credit history and without money to develop their own companies.

Information from

RGJ

rgj.com/article/20110201/BIZ/102010321/1321/news

Congressman Lee quits avoiding further Craigslist scandal fallout

Congressman Lee is embroiled in a scandal over released photos and emails he sent a woman he met on Craigslist. The incident has prompted him to resign from Congress. Christopher Lee, a New York Republican, was entering his second term in the House. He didn’t wait long to step down once the news broke. It seems that that it was better to just head things off before it became a huge scandal.

'Craigslist congressman’

Craigslist was where the events started that eventually led Christopher Lee to step down from the NY House of Representatives. The Washington Post reports that Gawker.com had photos released onto it. A personal ad was posted by a woman, remaining unnamed, living in MD. Christopher Lee responded to it. The female had a question to ask. It asked, “will someone prove to me not all CL men look like toads?” In his second term in the House of Representatives, Christopher Lee wrote back to her. He said he as younger than 46, which is his real age, and that he was a lobbyist on Capitol Hill. After he sent her photographs of himself, she realized what was really going on as the two talked back and forth.

Gawker leaks photographs

When Lee sent shirtless photographs of him, his Craigslist correspondent asked if he habitually sent photos of himself topless, and he said that it was “all I had.”. As the two kept e-mailing each other, eventually she asked about his marital status, to which he replied that he was divorced. Lee does not only have a wife. He has a son as well. Vaguely recognizing the photograph, she searched the internet for his name and discovered he was really older than 40, married and a congressman from the 26th District of New York. The news got out quite fast after she sent the e-mails and pictures to Gawker.com.

Gawker forces resignation

The story got out fairly fast after Wed, February 9, Gawker.com published the photos. Lee wrote a letter to John Boehner, the Speaker of the House, notifying him that he was resigning within hrs of the news breaking, in accordance with NPR. Just a little later in the day, the letter was read out loud on the floor by a clerk. Andrew Cuomo, who is the governor of NY, could have to hold an election to replace him.

Information from

Washington Post

washingtonpost.com/wp-dyn/content/article/2011/02/09/AR2011020906977.html?nav=hcmoduletmv&sid=ST2011020907393

NPR

npr.org/blogs/itsallpolitics/2011/02/10/133648332/rep-christopher-lee-resigns-from-congress-after-non-sex-scandal

Gawker

gawker.com/#!5755071/married-gop-congressman-sent-sexy-pictures-to-craigslist-babe

Decreasing home values put record number of home loans under water

Dropping house values has led to a record amount of home loans being underwater. The value of houses nationwide has been steadily sliding downward as foreclosures, unemployment and tight credit take a toll on real estate. Values could continue to fall.

Over a quarter of home home loans estimated to be underwater

The recession has caused home prices to go down. There has been a higher unemployment, fewer homes sold and more foreclosures. This has caused an even lower home value recently. It’s called being under water on a mortgage when more money is owed on a home than it’s worth. Currently, 27 percent of American homeowners face this issue, Bloomberg reports. Zillow is a real estate information company that explained that right now, 15 million home loans are underwater. In the past year, house prices are estimated to have dropped 6 percent. Just since September 2010 they have gone down 3 percent. A 5 percent decline in 2011 is anticipated. They are not going up just yet.

Deceptive decline in foreclosures

Foreclosure activity has been closely viewed over the past year in the hopes that a slowing rate of foreclosure would mean a real estate industry close to recovering. The crisis is not over yet, says CNN. The slowing rate of foreclosures in Jan does not mean that. Before banks would foreclose on homes, they wouldn't review paperwork first, which was called the "robo-signing" scandal. This is why there have been fewer foreclosures occurring lately. The amount of homes and private loans foreclosed on will likely increase once the backlog of foreclosure cases in courts and at loan providers is reduced.

Locations having trouble with foreclosures

Areas where real estate values are the highest are nevertheless plagued by high foreclosure and rates of negative equity. Nevada, AZ and CA nevertheless lead the nation in foreclosure-affected states. Florida, though, has started to improve, falling to ninth place nationally in foreclosure rates.

Citations

Bloomberg

bloomberg.com/news/2011-02-09/home-price-decline-leaves-27-of-u-s-owners-underwater-on-loans.html

CNN

http://money.cnn.com/2011/02/10/real_estate/foreclosure_filings_fall/

More people viewed Super Bowl XLV than any TV program

As Super Bowls go, Super Bowl XLV was a monster of a game for Nielsen ratings. The WA Post reports the competition between the Green Bay Packers and the Pittsburgh Steelers drew a television record one hundred and eleven million viewers as the most-watched program in United States TV history. The Packers’ triumph bested the 106.5 million viewers who tuned in for Super Bowl XLIV last year, as well as the 106 million viewers who watched the series finale of "M*A*S*H" in 1983.

Who watched the Super Bowl

Some media sources have reported that Super Bowl XLV had a television audience of 162.9 million people. The actual viewers aren't represented by that number that is really a "reach" number advertisers can use. The individuals in that count watched less than six minutes of the game. It was not the whole game watched. About one hundred and eleven million individuals watched the whole performance though. This includes those who viewed the whole Black Eyed Peas halftime show.

Football and 'Glee' fans did not cross over

Even though a new episode of "Glee" was played, not much of the audience was willing to stay and watch the after game show. Nielsen Media Research claims 84 million of the one hundred and eleven million bailed when the game was over. The post-Super Bowl audience of 27 million viewers this year was significantly lower than what CBS experienced last year when it aired the reality show contrivance "Undercover Boss," which captured 39 million viewers.

For the top two Super Bowl programs in history, neither got close. In 1996, there were 51 million viewers for an episode of "Friends" while the show "Survivor: The Australian Outback" got 45 million people to stay and watch it.

East Coast causes less of a crowd

Due to when "Glee" started, many feel like this affected the drop off after the Super Bowl. "Glee" started at 10:30 p.m. Eastern time with the Super Bowl XLV. One major reason why the drop off occurred could have been because of the Nielsen sector going to bed in the Easter time zone.

Articles cited

Washington Post

voices.washingtonpost.com/TVblog/2011/02/glee-post-super-bowl-episode-a.html

Super Bowl XLV Doritos commercial

youtube.com/watch?v=qRMMBXx3kqk

Las Vegas sports book manages to lose on each side of Super Bowl score

Las Vegas casinos suffered a rare loss on Super Bowl betting this season. Green Bay’s decisive victory was not what the Las Vegas sports book had been hoping to see. It is anticipated to be the worst loss for Las Vegas bookies on the Super Bowl since 1993. People lost and won money from the short term personal loans they got for their betting needs.

The Super Bowl wasn't great for Las Vegas gambling establishments as it ought to have been

Super Bowl betting turned into a worse-case scenario for the Las Vegas sports book. The 31-25 victory that the Packers showed helped with the 2 ½ point favorites. Tues can be when official numbers are released by Nevada officials although gambling establishments are anticipated to lose a lot depending on several factors. The Packers were preferred and they covered the 3-point spread. At least two $1 million bets were placed on the Packers. This was shown in reports. The over/under for the Super Bowl had been set at 45.5 points. With the 56 point game, most voted the Packers would win. At halftime, the Pittsburgh Steelers seemed to be coming back while down by 11. Still, the Steelers were preferred by 2 ½ points by Vegas.

Much more bad news for Las Vegas

The Las Vegas sports book lost on the Super bowl because amateur gamblers tend to bet on the preferred and think the over/under is too low. The preferred will hopefully win, if the sports books get what they want. They just want a low-scoring game to happen instead. If the favorites fail to cover in the win, the bet on them loses. Green Bay gamblers won some money since the Packers were favored by 2 ½ and won by six. To make matters worse for the Las Vegas sports book, it preferred the Steelers by 2 1/2 in the second half. When the second half started, the Steelers were down by 11. This was not a good start. As 8 ½ points behind in the second half, several realized they could bet on the Steelers for the 2 ½ point underdogs. Pittsburgh helped those betters out also by losing by six.

Wagering means losing can occur for the house as well

Annually, Super Bowl Sunday is the biggest gambling day of the year. The Vegas Gambling establishments are filled. The Last Vegas sports book got a lot of bets though. This was for each team. When the Super Bowl occurred in 2010, in Las Vegas alone there was $82.7 million bet. The Casinos collected $6.8 million. Estimates for Super Bowl gambling in 2011 at Vegas are as high as $95-$100 million. After the New York Giants upset the New England Patriots in 2008, Las Vegas lost $2.6 million. In the other nine Super Bowls since 2000, the gambling establishments have averaged a stake of $9.07 million.

Articles cited

Los Angeles Times

latimes.com/sports/la-sp-super-bowl-vegas-20110207,0,2227070.story

Business Insider

businessinsider.com/super-bowl-vegas-sports-books-lost-money-2011-2

Las Vegas Review Journal

lvrj.com/sports/packers-and-over-makes-it-big-day-for-betting-public-115485929.html

Courting website steals information from Facebook to school the system

Back in his Harvard days, Zuckerberg was busted by campus administration for stealing co-ed picture and name information from school servers to be able to launch FaceMash. Zuckerberg, who would go on to create Facebook, was accused of taking information and identities. That was 2003, however Wired reports that today, a couple of activists with an internet dating website want Zuckerberg to learn something about data security. Paolo Cirio and Ludovico, founders of internet dating site Lovely Faces, scraped 250,000 Facebook profiles for names, pictures and locations to be able to get their site off the ground. Facebook is displeased that the duo did not ask for permission, and the business might be preparing to sue. Facebook currently makes so much money that they probably will not need quick personal loans to take this com! pany to court.

What you should know about Lovely-Faces.com

Without obtaining consent, Lovely Faces grabbed Facebook user information and classified images of male and female faces via a recognition algorithm into such categories as "easy going," "smug" or "sly." Cirio and Ludovico are worried about the legality of it all. This is because they used Facebook user's actual names as well. The idea that it’s acceptable to put personal information on online social media is what is being challenged by Lovely Faces. They claim not to be a business venture, claims Wired.

"If we start to play with the concepts of identity theft and dating, we should be able to unveil how fragile a virtual identity given to a proprietary platform can be," write the Lovely Faces founders on Face to Facebook. "And (we’ll see) how fragile enormous capitalization based on exploiting social systems can be."

The cracks inherent in the system is what Cirio and Ludovico are trying to do with Facebook and other social networks. They’re hoping to make the networks crumble from over-hyped stock evaluations just like in the early 2000s when the bubble burst stopping several dot coms.

Facebook upset with Lovely Faces

There’s a violation of Facebook's terms of service in accordance with Barry Schnitt. He is the Director of Policy Communications at Facebook. Thus, Facebook is currently investigating Lovely-Faces.com before taking legal action. Facebook has sued others before, such as the online protection research firm Skull Protection after it released 100 million Facebook user names and profile addresses. Zuckerberg and business may sue again.

Information from

Face to Facebook

face-to-facebook.net/theory.php

New York Times

bits.blogs.nytimes.com/2010/07/28/100-million-facebook-ids-compiled-online/

Wired

wired.com/epicenter/2011/02/facebook-dating/

Dating on Facebook with Flyness: No illegal action required

youtube.com/watch?v=1D51lBv1Hac

Egypt protests escalate as Anderson Cooper is beaten by mob

While covering the growing demonstrations in Cairo, Anderson Cooper was beaten as CNN crews were getting footage. On the streets of Cairo, pro-government and anti-government protesters have begun a series of ongoing brawls and outright mob warfare. Journalists are becoming targets of physical violence by pro-Mubarak demonstrators. There isn’t a cash advance large enough to get me over there just to write about the violence. I’ll stay safe on American earth.

Anderson Cooper beaten as CNN anchor

The NY Times accounts that anchor for CNN network Cooper was covering the street violence in Egypt when getting beaten. In order to cover the demonstrations, CNN sent Cooper to Cairo with a news crew. While in Tahrir Square in Cairo, anti-government and pro-government demonstrators engaged in gang-style street warfare. President Mubarak proponents have attacked several reporters and news crews which included Cooper getting hit 10 times in the head, although he didn't seem hurt in a later CNN broadcast.

The fight Tahrir Square faced

Many groups that are rivals have done demonstrations in Cairo. This has led to street violence happening. There was an Egyptian Museum looted last week. CNN reports that Tahrir Square near there has become a battlefield. Vehicles have been overturned to form makeshift barricades, and implements from rocks to Molotov cocktails have been hurled by either side in the clash. Several have felt the effects of tear gas. There have been shots as well. Many fires on buildings keep getting set. The Egyptian army has tried to stop them though. Everyone continues to be upset about President Mubarak's term even though he promises to step down at the end of his term this year.

Army in Egypt asks violence to end

There have been responses the Egyptian army has made. This has been to ask, accounts the Al Jazeera, the mobs to stop violent activity. A spokesman for the army, Ismail Etman, went on state television calling for individuals to return home and stop fighting. Etman looks at it like he was asking the “honest men of Egypt” to “look forward to the future.” The army stated the concerns the anti-government protesters have are valid. It also stated that force won’t be used to stop protests.

youtube.com/watch?v=4JJHYYvC3m0

Information from

New York Times

nytimes.com/2011/02/03/world/middleeast/03journalists.html?partner=rss&emc=rss

CNN

cnn.com/2011/WORLD/africa/02/02/egypt.protests/index.html?hpt=T1

Al Jazeera

english.aljazeera.net/news/middleeast/2011/02/20112210516616914.html

Researching airfare price tendencies helps discover affordable tickets

To discover inexpensive airline tickets, its best to study airline tickets prices trends, do your homework and remain vigilant. Air carriers know experienced travelers will look for the best deal, but they make finding them a chore for the uninitiated. The most affordable airfares are a moving target and it takes time to determine when and where to discover affordable airline tickets. If you do it right, you might not require a pay day loan to buy that air travel ticket.

Locating the lowest priced airfares is a challenge

Airlines can change ticket prices several times a day. Sometimes, the prices are continually tracked. Anybody who wants a cheaper rate on airfare ought to sign up for this sight. Some travel web sites also help you to stay informed about airline tickets prices tendencies, fees and surcharges. Typically you are going to be better off with an earlier purchase of a ticket. You need to be flexible about what you do. If you are preparing on borrowing money with a short term personal loan to get a special deal on an excellent trip, this is probably even more important. Airlines start marketing the lowest priced airfares about four months ahead. You are able to also figure out if the most affordable airline tickets will be possible by simply looking at trends ahead of time.

What flying costs right now

When you can’t plan in advance, savvy travelers say the most affordable day to purchase airline tickets is Wednesday. There is a one week cycle that most airline tickets go through. Monday night is when sales start meaning up to a 25 percent discount. Rivals usually match the price if there’s a deal offered by a discount carrier for instance AirTran. Flying costs more on Thursday nights. That's when the fares go up. The airline's time zone is where you are likely to want to look. Wed from midnight to 1 a.m. is the best time to buy. All reserved low-fare reservations that are not booked get put there. Get online late at night to snap up these opportunities because they go fast.

Use technology to get better airfares

The weekly airfare cycle is a relic of the time when airlines advertised daily sales within the newspaper and travel agencies sold tickets Monday through Friday. Sales launched early in the week gave time for the word to get out. Nobody noticed the sales if they were at the end of the week. The pattern still holds, even though the Internet lets airlines sell their own fares and screaming deals can pop up in Twitter tweets on smartphones anytime. Airfare prices will become very unpredictable pretty soon. Ultimately, to discover the lowest priced airfares, you need technology on your side.

Articles cited

Market Watch

marketwatch.com/story/whatever-you-do-dont-buy-an-airline-ticket-on-2011-01-27?pagenumber=2

ABC News

abcnews.go.com/Travel/best-time-buy-airline-tickets/story?id=4519704&page=3

Seeking Alpha

seekingalpha.com/article/15113-tip-for-best-purchase-time-of-airline-tickets

Lawsuit attempts to get 2,800 percent of P. Diddy's value

Musician Sean “P. Diddy” Combs is being sued. The court action will first be heard on January 31. The legal action alleges that P. Diddy did anything up to and including “knocking down the World Trade Center." The case requests several billion in injuries. Combs would be living of personal loans for the rest of his life if he does not win this case. Article resource – P. Diddy sued – $900 billion case cites World Trade Center by MoneyBlogNewz.

Information on the P. Diddy $900 billion suit

A legal action against P. Diddy, or Combs, is occurring. Several crimes, including rape, sexual abuse and verbal abuse, were named in the lawsuit against Combs by Valerie Joyce Wilson Turks. She claims Combs is the father of her 24 year old child, so she is asking for $900 billion in child support payments. She also wants money for damages. $100 billion is what she is asking for. The woman claims that Combs has a very essential casino chip. It’s supposedly value "100 zillions of dollars." The main portion of the complaint reads:

(Diddy) went through Kim Porter and Rodney King and knocked down the WTC and then they all came and knocked my children down… He date raped me 24 years ago and knocked me down him and Kim Porter and Wallace Wright, then Sean Combs and Kim and Wallace Wright came back 18 years later and raped and sexually abused my children and knocked my children down and crushed me and my children daily.

P. Diddy sued for $900 billion that does not exist

P. Diddy is the artist Combs works under the name of who is worth about $346 million. The $1 trillion that Turks is attempting to get from Combs is really 28 times what he value. It’s even more than the amount of cash in circulation currently as well. Currently, about $853.2 billion in cash is in circulation. This is what the Federal Reserve estimates.

Pro Sae representation

The documentation for the legal action against P. Diddy for $900 billion seems to be Pro Sae — self represented. In any court case, individuals can represent themselves in the state of CA. It can be interesting to see if anything happens with the case although the P. Diddy court action will probably get thrown out.

Articles cited

New York Magazine

nymag.com/daily/entertainment/2011/01/p_diddy_getting_sued_for_900_b.html?mid=partnerfeed

Dough Roller

doughroller.net/personal-finance/how-much-money-is-in-circulation-today/

Paulson and the way he earned his billions

John Paulson made enormous amounts of dollars betting against the United States real estate market, receiving a cash loan each time a homeowner foreclosed. Regardless of whether Paulson is considered to be a crook or a master, there is no disputing the real estate bubble and investment in various financials have made him a billionaire. He will not be applying for a pay day loan to pay for his mortgage at any time soon.

Getting Citigroup with John Paulson

To some, hedge fund director Paulson represents all of what is wrong with Wall Street. After earning approximately $15 billion betting against the United States real estate industry in 2007 – and being labeled a "guru" for doing this – Paulson moved to the other side of the investment speculation fence. He bet that the United States economy would soon rebound. He bet on high gold prices and rebounding house prices with his "after the fall" outlay while also putting investments into several indexes. Paulson’s stake in Citigroup earned his hedge fund investors utilizing Paulson & Co. about $1 billion in 2010. Over the past year, Citigroup’s share price shot up 50 percent.

About $35 billion in investments are owned by Paulson & Co. right now. Where most hedge funds eschewed the more volatile elements of the market past year, Reuters accounts that Paulson and company took small financial lumps early this year, yet managed to swing things around into double-digit gains. For 2010, the Paulson Advantage Plus fund had a 17 percent rise for the year. Also, there was a 35 percent jump in Paulson's gold investments.

How good is 17 percent?

The 17 percent gain by the Paulson Advantage Plus Fund really isn't that different than the 15 percent gain the S&P 500 had past year. This is something the Globe and mail points out when discussing the success of John Paulson. The Canadian newspaper's opinion could be wrong though. Even though Paulson did invest "against-the-bubble" hurting the economy in order to make himself millions, the federal regulators didn't do anything over it. Most are upset about this though. They say it isn't an excuse to do what he did.

Articles cited

The Guardian

guardian.co.uk/books/2010/mar/07/the-greatest-trade-ever-by-gregory-zuckerman-review-heather-stewart

The Globe and Mail

theglobeandmail.com/globe-investor/markets/markets-blog/paulsons-5-billion-haul-big-deal/article1886319/

Reuters

reuters.com/article/2011/01/25/us-hedgefunds-paulson-idUSTRE70O4G820110125

Wikipedia

en.wikipedia.org/wiki/Credit_default_swap

John Paulson and Joe Stiglitz on the mispricing of risk

youtube.com/watch?v=l8G-b315B6E