It’s legal because there someone on the otherwise taking their bet. They’re not making money on the actual foreclosures, just the bonds going bad, which I agree

It’s legal because there someone on the otherwise taking their bet. They’re not making money on the actual foreclosures, just the bonds going bad, which I agree is kinda similar. Some of those trades you could think of as catastrophic insurance policies. There are a few bigger issues here: why did the malls go bad? Could they simply not adapt to online or were they saddled with debt like some take over companies do? And should a mall ever take out a position like hedgedund did to protect against their own downfall? I’m not really trying to pick sides here but to me we should be more worried about why snd how the malls fell snd less about who made money when they did.