finalternatives reports that after five long years trying to beat the hedge funds hounding his
employer, Residential Capital, Thomas Marano may be joining them. Marano yesterday resigned as CEO of the
bankrupt Ally Financial subprime mortgage lender. The former Bear Stearns
exec, who has headed ResCap since 2008, may start his own hedge fund.
Marano may also choose to launch a real-estate investment
trust, and he said he's been in talks with "very large, New
York-based" private-equity firms about starting a mortgage-related
business."
Read all about it at http://www.finalternatives.com/node/23598
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