John Paulson looking to buy distressed debt: report (Reuters)

Hedge fund director John Paulson, president of Paulson  and  Co Inc, testifies before a U.S. House Oversight and Government Reform Committee hearing on the regulation of hedge funds, on Capitol Hill in Washington in this November 13, 2008 file photo. (Jonathan Ernst/Reuters)Reuters – John Paulson, who runs the $36 billion hedge fund firm Paulson & Co, is looking to buy distressed mortgages and distressed debt, despite being bearish on the overall economy, Bloomberg reported.

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