Detailed text transcripts for TV channel - CNN - 20100419:18:22:00
Been promised that the adviser to the fund, who is picking the loans to put in the fund had their interest at heart. and, in fact, as the s.e.c. alleges, that wasnt true, that the -- there was another party, paulson, who was going to short the fund, in other words, bet that it would go down in value. and thats this essence of a conflict of interest. so the purchasers of the portfolio thought they had an honest broker picking their loans to buy, and, in fact, they didnt have a disinterested honor...
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