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I saw a little blurb in th Wall Street Journal yesterday. It confirmed what I already suspected or knew. While many hedge funds are imploding - Soros opened a new office for one of his hedge funds.

This was all Cloward-Piven, Alinsky, Ayers stuff. About 3 weeks ago Soros with two mega hedge fund stars Chris Flowers (made probably a billion being ahead of everyone shorting mortgage back secs) and John Paulson bought Indy Mac with Michael Dell (Dell computers who is supposedly a Repub).

Rewind - they teed up one company after another using shorting, naked shorting, shorting using futures, rumor spreading and possibly most importantly buy credit default swaps (CDS). CDS drives up the cost of a company insuring their debt. Once it gets high enough - the company is essentially insolvent. Shorting combined with buying CDS is like one guy holding a man under water by his head while another pulls his feet under.

Anyway, they lined up these companies one by one in “bear raids” where hedge funds would have coordinated attacks on companies. Bear, Wachovia, Countrywide, Lehaman, they just went down the list and cleaned up. The financial industry infection was set at Fannie and Freddie plus CRA lawsuits by community organizers.

Getting back to Indy mac - who started the rumor that caused the run on Indy Mac? Chuck Schumer. Odd how hedge funds can short and wipe out a company then buy it later for pennies. It gets worse. Uncle Sam probably gave them TARP money to buy it plus they have tax loss carry forwards in the billions which they bought for free.

As Hoosermama says - remember just before Oct when McCain was ahead in the polls. Where has the economy gone since then? We have had a collapse in confidence not seen since the 1930s because of O and Pelosi/Reid. Conservative talk show hosts should scream it from the roofs - the public has NO confidence in these corrupt people (and who ever is behind them).