Paulson, now a distinguished senior fellow at the University of Chicago, declined to comment through a spokeswoman. The financial executives known to have attended the meeting also declined to comment. A spokesman for one, GSO Capital Partners LP co-founder Bennett Goodman, said the firm's owner, Blackstone Group LP, doesn't believe market-sensitive information was discussed.

Richard Painter, a law professor at the University of Minnesota, says Paulson handed hedge fund managers the kind of information they seek every day. "There's a lot of government information out there, and the hedge funds are trying to get it," Painter says. "It's a huge problem that has to be addressed."

 

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