After Financial Crisis, Fates of Lender and Borrower Diverge
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Timothy L. Blixseth, a former billionaire, is now in jail in Montana. CreditMichael Albans/Associated Press
Timothy L. Blixseth, a 65-year-old former billionaire, now sits in his eighth week of solitary confinement in a county jail in Great Falls, Mont., one of the few people being held accountable in connection with Wall Street’s profligate behavior in the years leading up to the 2008 financial crisis.
He is not even a banker. Rather, Mr. Blixseth was a client of a group ofCredit Suisse bankers who were rewarded handsomely from 2004 to 2006 for making $3 billion in aggressive senior secured loans to developers of luxury resorts in the West with little concern for how the money was going to be used…
After Financial Crisis, Fates of Lender and Borrower Diverge
