Bloomberg – Billionaire Nelson Peltz and former Countrywide Financial Corp. President Stanford Kurland are among at least six investors turning to the public markets to finance purchases of distressed home loans and corporate debt.

The investors, most of whom previously relied on private partnerships for funding, have proposed since May 1 to raise $2.6 billion through public stock sales. They plan to use the money, along with government financing in some cases, to acquire mortgages and below-investment grade loans to companies that fell in value amid the collapse of the real estate and credit markets starting in mid-2007.

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Newsday – The latest development in the mortgage market fomenting outrage in the streets and condemnation across the media spectrum is the spectacle of rich investors — Wall Street traders, hedge fund operators, even former executives of the detested Countrywide Financial Corp. — buying up delinquent home loans, reworking terms for borrowers, and selling them off to new investors at a handsome profit.

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Tags: borrowers, condemnation, countrywide financial, countrywide-financial-corp, handsome profit, home-loans, media spectrum, mortgage-market, newsday, outrage, rich investors, spectacle, wall street, wall street traders