Posted on 11/18/2012 8:56:04 PM PST by bronxville
Soros increases his stake in AIG
By Laurie Bennett
November 18, 2012 at 5:56am
One of the likely beneficiaries of the government-backed recovery of American International Group: billionaire George Soros.
Soros Fund Management has upped its investment in AIG, bringing its holdings to 15.2 million shares, worth $484 million.
The fund last week reported AIG as its third largest investment (after Micron and Lucent).
Soros is a longtime supporter of liberal causes and Democratic politicians. In the last election, he gave $1 million to the major super PAC supporting President Obama’s re-election, and another $1 million to American Bridge 21st Century, a group that does opposition research on Republicans and conservatives.
Last year, his fund returned money to its outside investors, refocusing as a family investment firm.
AIG’s biggest single shareholder is the U.S. Treasury Department, which committed $182 billion to the insurance giant to prevent its collapse during the financial crisis of 2008-2009. The government rescue came one day after the bankruptcy of Lehman Brothers.
In September, the government sold $18 billion of AIG stock, turning a profit of $12.4 billion and reducing its status to minority shareholder.
Another big investor in the AIG rebound is Fairholme Capital Management, run by multimillionaire investor Bruce Berkowitz. Fairholme reported last week that it owned 86.5 million shares, currently worth $2.75 billion.
When shall the world be rid of this Kapo?
So, what’s he up to? Running up AGI’s value so he can sell his shares off for a profit or something more sinister? Does he believe the US Treasury will be confiscating 401Ks?
“Does he believe the US Treasury will be confiscating 401Ks?”
I believe that’s the case.
Don’t worry folks, George and all his organizations and companies CARE about you, cradle to grave.
Meet Kathleen Foley...
http://www.opensocietyfoundations.org/people/kathleen-foley
BTTT
Very interesting. Thanks for your work on this topic, bronxville.
http://www.freerepublic.com/focus/f-news/2580906/posts
That is what a “double tap” is for!
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