Hedge Fund | Hedge-fund Big Paul Singer Scorched By Ally And ResCap
May 19, 2012 – 9:11 pm
Billionaire hedge-fund mogul Paul Singer has been burned both ways trying to make a buck off Ally Financial and its bankrupt mortgage unit, Residential Capital. And he appears ready to battle in bankruptcy court to avoid getting singed a third time. Singer’s Elliott Management owned a 2.3 percent stake in Ally, making it one of the biggest shareholders. Elliott still owns debt in ResCap,
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