Former hedge fund manager Raj Bhatia and mortgage broker Albert Behin are convinced they can make money buying “toxic assets” — the stuff that’s killing banks’ balance sheets. The two have lined up a couple of investors, and now they’re getting ready to buy some mortgages.
What Bhatia and Behin are doing is a free-market solution to the crisis. But they’re only two guys.
“There are not enough of us out there to absorb what’s out there,” Bhatia says. “You got to remember, there’s trillions of dollars of product right now that has to be worked through.”