Falcone’s Fall: How A Billionaire Gambled On Washington And Lost

Phil Falcone made a $10 billion score betting against subprime mortgages, including an estimated $1.7 billion for himself. Then he steered his Harbinger Capital right off a cliff, betting $4 billion on the equivalent of a dicey real estate deal. That drove him off this year’s Forbes list of the 400 Richest Americans, but he may be back.

SOURCE: Forbes