Wall Street’s biggest breadwinners benefit from subprime crisis

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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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