His flagship Advantage fund blowing through about 50% of investor capital this year - much of it...

|By:, SA News Editor

His flagship Advantage fund blowing through about 50% of investor capital this year - much of it due to a bullish bet on the financials - John Paulson takes to the pages of the FT urging an ECB sovereign guarantee program to calm credit markets. Such a move, he contends, would cost the ECB little (up front) and see the benefit of an immediate drop to the 4% range for the 10 year debt yields of Spain and Italy.