NEW YORK (
) -- Several financiers learned that
would go into conservatorship about seven weeks ahead of time,
reported in an article published Tuesday.
Putting Fannie and Freddie into conservatorship would wipe out the common shares and much of the preferred stock of the government sponsored entities, the group was informed.
The group of fund managers, at least five of whom were alumnae of
, received the tip on July 21, 2008 from then-Treasury Secretary and former Goldman CEO Hank Paulson, the report stated.
found no evidence the attendees, who included
Chairman Roger Altman,
founder Eric Mindich
senior managing director Bennett Goodman and
Och-Ziff Capital Management
Chairman and CEO Daniel Och, among others, profited from the information.
Asked to comment on the meeting, Paulson spokeswoman Michele Davis, who was also in attendance, referred
to Paulson's book on the financial crisis "On the Brink." However, the book makes no mention of the meeting, which took place at the offices of Eton Park.
Written by Dan Freed in New York
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