Skip to comments.The Soros Loophole
Posted on 08/11/2011 9:37:56 AM PDT by opentalk
It wasnt 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 yesterdays racing form.
...So it shouldnt surprise anyone that this man ...now doesnt 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 familys 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 isnt a big deal. Its major drawback is that it would open up Soross shady dealings to unprecedented public scrutiny
(Excerpt) Read more at frontpagemag.com ...
He testified before a Congressional committee? WHY WASN’T HE ARRESTED???
Such oversight might give the government early warnings of his upcoming shenanigans.
Remember that Soros profits from economic destruction.
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.
On what charge? The Feds would actually have to investigate his market manipulations to be able to charge him.
Greed is a powerful motivator. Even nations that hate him are still willing to deal with him.
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
He really is a loser. Should have arrested him a long time ago.
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.
Now that’s one loophole I am in favor of closing.
George Soros has been invested for years in South American banks identified as money launderers for the drug cartels:
Other people suffer so he can get rich
--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 Soross hypocrisy is breathtaking. While profiting handsomely from capitalism, Soros sings the praises of European-style socialism and says its exactly what we need now.
--The system we have now has actually broken down, only we havent 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
“He testified before a Congressional committee? WHY WASNT HE ARRESTED???”
Well, look at who the Attorney General is.