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The Sciences

Is this profiting on stupidity bad?

Gene ExpressionBy Razib KhanJanuary 14, 2009 2:09 AM

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The Man Who Made Too Much:

Hedge fund manager John Paulson has profited more than anyone else from the financial crisis. His $3.7 billion payday in 2007 broke every record, and he made it all by betting against homeowners, shareholders, and the rest of us. Now he's paying the price.

There's a lot of talk about how this is equivalent to currency speculation, but is it? I mean morally.

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