Paulson Pick News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Jersey heating repairman. jack fell behind on his mortgage, so far behind that he lost the house to a foreclosure. on monday it was put up for auction at the county hall of records. >> thank you for inviting me to appear today. >> reporter: this is hedge fund manager john paulson, he bet that jack and thousands of other americans would not be able to pay their mortgages. paulson bet right and made $1 billion. this is goldman sachs, the nation's most prestigious investment firm. goldman sachs set up the bet for john paulson. jack's house was one of the cards and goldman sachs was supposed to be...

Appear to today. >> reporter: this is head fund manager paulson, he bet that jack and thousands of other americans would not be able to pay their mortgages. paulson bet right and made a billion dollars. this is goldman sachs the nation's most prestigious investment firm. goldman sachs set up the bet for john paulson. jack's house was one of the cards, and goldman sachs was supposed to be shuffling the deck. german bank ikb bet that jack and thousands of other homeowners could pay their mortgages. ikb bet wrong and lost $150 million. this is the u.s. securities and exchange commission. it said ...

Could pay their mortgages. ikb bet wrong and lost $150 million. this is the u.s. securities and exchange commission. it says goldman sachs committed fraud by letting paulson pick the cards at the gambling table without telling ikb. >> allegations against goldman sachs are that they sort of loaded the dice, stacked the deck, by designing a portfolio that was weaker than average. >> reporter: the s.e.c. says ikb was a victim, but ikb is not considered a victim in king county, washington, home to seattle. king county bought one of the investments ikb was selling. it lost more than $20 million. an...