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The Soros Loophole
Frontpage ^ | August 11, 2011 | Matthew Vadum

Posted on 08/11/2011 9:37:56 AM PDT by opentalk

It wasn’t that long ago that currency speculator George Soros was traveling the globe urging regulatory crackdown on the same financial sector that has allowed him to become a billionaire 14 times over.

In late 2008 the preachy political radical who has given more than $8 billion to charities and left-wing causes lectured a congressional committee. “The entire regulatory framework needs to be reconsidered and hedge funds need to be regulated within that framework,” he pontificated.

Soros got his wish, and the lawmakers his money helped to install in Congress dutifully approved the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203).

Soros talks a good game when it comes to openness and transparency. With an obedient media in tow, he postures as a defender of business ethics and good government but the lofty ideals he espouses apply only to other people. In the end, when his personal interests are at stake, his professed ideals get discarded like yesterday’s racing form.

...So it shouldn’t surprise anyone that this man ...now doesn’t want to comply with new disclosure rules that accompany the Dodd-Frank law. To avoid complying, he is closing his $25 billion Quantum funds to investors outside his family.

What new regulation does Soros consider to be so burdensome? A mere requirement that hedge funds such as his with more than $150 million under management register with the U.S. Securities and Exchange Commission (SEC) by March 2012. A loophole allows a fund to skip registering if it manages only a family’s funds.

Why would Soros, benefactor of the aggressively leftist Open Society Institute, not want to register like all the other big players on Wall Street? In the scheme of things registration isn’t a big deal. Its major drawback is that it would open up Soros’s shady dealings to unprecedented public scrutiny

(Excerpt) Read more at frontpagemag.com ...


TOPICS: Business/Economy; Front Page News; Government
KEYWORDS: corruption; democrats; economy; financialreformbill; frankdodd; frankdoddbill; fraud; hedgefunds; liberalfascism; managedfunds; mfa; quantumfunds; shadowparty; soros; spookydude

1 posted on 08/11/2011 9:37:57 AM PDT by opentalk
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To: opentalk

He testified before a Congressional committee? WHY WASN’T HE ARRESTED???


2 posted on 08/11/2011 9:43:47 AM PDT by Frank_2001
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To: opentalk
From page 2 of article, sums up Soros factor

Such oversight might give the government early warnings of his upcoming shenanigans.

Remember that Soros profits from economic destruction.

3 posted on 08/11/2011 9:46:26 AM PDT by opentalk
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To: opentalk

Maybe the world will get lucky and Gaddafi will figure out Soros’ part in the west’s attack on him and do the right thing.


4 posted on 08/11/2011 9:47:00 AM PDT by TigersEye (Life is about choices. Your choices. Make good ones.)
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To: Frank_2001
"He testified before a Congressional committee? WHY WASN’T HE ARRESTED???"

On what charge? The Feds would actually have to investigate his market manipulations to be able to charge him.

5 posted on 08/11/2011 9:48:34 AM PDT by DannyTN
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After 42 Days FR Is Still Short Of Its Goal

If Free Republic Ends We Lose

And This Man Wins

Click The Pic To Donate

6 posted on 08/11/2011 9:49:35 AM PDT by DJ MacWoW (America! The wolves are here! What will you do?)
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To: DannyTN

Greed is a powerful motivator. Even nations that hate him are still willing to deal with him.


7 posted on 08/11/2011 9:50:21 AM PDT by cripplecreek (Remember the River Raisin)
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To: opentalk

Soros’s little Brazilian honey is suing him for manhandling her and not buying her an apartment. What’s she gonna do; give the money back to the people he stole from? /sarc

http://www.dailymail.co.uk/news/article-2024790/George-Soross-Brazilian-ex-lover-sues-50m-broke-word-giving-1-7m-apartment.html

He really is a loser. Should have arrested him a long time ago.


8 posted on 08/11/2011 10:39:57 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: opentalk

I don’t believe he has given billions to charity or his left wing organizations. If anything; he has used the taxpayer money; more than he has used the money he claims as his own. This kind of man would not be charitable. He is more the dirty little coward.


9 posted on 08/11/2011 10:45:38 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: opentalk
When all the civil unrest and turmoil the world is currently facing is in our rear view mirror, it will be shown that George Soros had a hand in most of it. If he's still alive when that day comes, he's going to need a secure bunker in a remote location and eyes in the back of his head. And as is usually the case, those who are his allies now will be the ones who will hunt him with a vengeance.
10 posted on 08/11/2011 10:46:19 AM PDT by liberalh8ter
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To: opentalk

Now that’s one loophole I am in favor of closing.


11 posted on 08/11/2011 11:21:31 AM PDT by rdcbn
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To: opentalk

George Soros has been invested for years in South American banks identified as money launderers for the drug cartels:

http://www.aim.org/special-report/the-hidden-soros-agenda-drugs-money-the-media-and-political-power/


12 posted on 08/11/2011 12:24:11 PM PDT by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: Brad from Tennessee

Other people suffer so he can get rich


13 posted on 08/11/2011 1:37:42 PM PDT by opentalk
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To: Frank_2001
agree, more from the article

--In Britain, the Daily Mail just published an article indicating that Soros may have earned $10 billion on Friday by making a $1 billion bet that U.S. sovereign debt would lose its triple-A rating.

--And Soros’s hypocrisy is breathtaking. While profiting handsomely from capitalism, Soros sings the praises of European-style socialism and says it’s “exactly what we need now.”

--“The system we have now has actually broken down, only we haven’t quite recognized it and so you need to create a new one and this is the time to do it,” Soros said as he created the Institute for New Economic Thinking (INET) in 2009 with a $50 million endowment

14 posted on 08/11/2011 1:44:03 PM PDT by opentalk
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To: Frank_2001

“He testified before a Congressional committee? WHY WASN’T HE ARRESTED???”

Well, look at who the Attorney General is.


15 posted on 08/15/2011 8:46:37 AM PDT by llandres (Forget the "New America" - restore the original one!!)
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