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A Financial Crisis Inquiry Commission the hedge fund Magnetar selected hundreds of millions of dollars worth of assets that went into a billion dollar Merrill Lynch mortgage securities deal, despite having long asserted otherwise.
As , Magnetar helped Wall Street investment banks create at least $40 billion worth of mortgage securities deals known as collateralized debt obligations, or CDOs. The hedge fund also bet against many of those CDOs as part of an investment strategy that paid off handsomely when the housing market crashed and those CDOs collapsed. ...
The hedge fund has consistently denied that it selected assets for the CDOs in which it invested and often bet against. Last April, in response to questions from ProPublica, the hedge fund said that " ... "
Read the .
For more:
* Listen to the Magnetar story that aired last year on .
* Watch "
," a show tune about Magnetar
.
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