Wall Street’s biggest breadwinners benefit from subprime crisis

April 22, 2008 08:40AM

An annual list of the 20 highest incomes on Wall Street, released by Forbes, revealed that two of the top three earners won big by betting on the depreciation of subprime credit and home mortgage companies. John Paulson of hedge fund Paulson & Co. made $3.3 billion and Philip Falcone of hedge fund Harbinger Capital Partners made $1.7 billion. Rev. Jesse Jackson expressed dismay with the money-making strategy at a Monday meeting in Brooklyn on methods of tackling the subprime crisis.


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