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Soros increases his stake in AIG
muckety.com ^ | 11-18-2012 | Laurie Bennett

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.


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: aig; soros

1 posted on 11/18/2012 8:56:09 PM PST by bronxville
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To: bronxville

Map at site:
http://news.muckety.com/2012/11/18/soros-increases-his-stake-in-aig/39211


2 posted on 11/18/2012 8:58:52 PM PST by bronxville (Margaret Sanger - “We do not want word to go out that we want to exterminate the Negro population,)
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To: bronxville

When shall the world be rid of this Kapo?


3 posted on 11/18/2012 9:01:16 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: bronxville

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?


4 posted on 11/18/2012 9:05:38 PM PST by bgill (We've passed the point of no return. Welcome to Al Amerika.)
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To: bgill

“Does he believe the US Treasury will be confiscating 401Ks?”

I believe that’s the case.


5 posted on 11/18/2012 9:11:38 PM PST by bronxville (Margaret Sanger - “We do not want word to go out that we want to exterminate the Negro population,)
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To: All

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


6 posted on 11/18/2012 10:43:13 PM PST by PieterCasparzen (We have to fix things ourselves.)
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To: bronxville

BTTT


7 posted on 11/18/2012 11:20:30 PM PST by Brandonmark (OWCM is The new American Minority!)
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To: bronxville

Very interesting. Thanks for your work on this topic, bronxville.

http://www.freerepublic.com/focus/f-news/2580906/posts


8 posted on 11/19/2012 6:02:06 AM PST by PGalt
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To: Army Air Corps

That is what a “double tap” is for!


9 posted on 11/19/2012 6:03:23 AM PST by Redleg Duke ("Madison, Wisconsin is 30 square miles surrounded by reality.", L. S. Dryfus)
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