One of the stocks in Paulson’s portfolio, Alpha Natural Resources, is getting clobbered today after the company and rival Walter Energy warned that output for steelmaking-coal will fall short of expectations…Paulson’s bet on Alpha Natural Resources is a relatively small chunk of his portfolio, but it is another ill-timed wager this year from the man who made a fortune from smart wagers against subprime bonds. [WSJ]
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Paulson And Co. Investors May Be Getting Coal In Their Stockings This Year
By Bess Levin
Barney Frank is putting together one hell of a Christmas present for the financial-services industry.
The head of the House Financial Services Committee said he plans to push through a whole sack full of new regulations changing the way Wall Street does business, or at the very least trying to change the way Wall Street does business, by next month. Committee debate on the proposals begins tomorrow.
While Congress and the administration have done basically nothing this year to respond to the alleged systemic problems underlying the financial crisis, Frank aims to fix everything in a holiday flurry of activity. Among the measures the man from Massachusetts expects to pass are:
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