His wife, Christy Mack, started her own business in 2009, called Waterfall TALF Opportunity, which has apparently netted the Macks some pocket change.
Matt Taibbi** writes that in 2009, Christy Mack and Susan Karches launched Waterfall TALF Opportunity, a company with a Cayman Islands address, although the two women did not seem "to have any experience whatsoever in finance." Taibbi reports that with an initial upfront investment of $15 million, Waterfall TALF received $220 million in cash from the Fed, most of which it used to purchase "student loans and commercial mortgages." He further explains that the loans were set up so that the investors "would keep 100% of any gains on the deal while the Fed and the Treasury (read: the taxpayer) would eat 90% of the losses." As of last fall, he continues, $150 million of the total the women borrowed had yet to be paid back.
**He of "Lloyd Blankfein should be in pound-me-in-the-ass prison," so, you know, giant grains of salt, etc.