Posted on 03/25/2009 2:47:58 PM PDT by Steelfish
'I'm having a very good crisis,' says Soros as hedge fund managers make billions off recession
By Mail Foreign Service 25th March 2009
George Soros said the current economic crisis has been the culmination of his life's work
A hedge fund manager who predicted the global credit crunch has said the financial crisis has been 'stimulating' and the culmination of his life's work.
George Soros, who predicted the global financial crisis twice before, was one of the few people to anticipate and prepare for the current economic collapse.
Mr Soros said his prediction meant he was better able to brace his Quantum investment fund against the gloabal storm.
But other investors failed to take notice of his prediction and his decision to come out of retirement in 2007 to manage the fund made him $US2.9 billion.
And while the financial crisis continued to deepen across the globe, the 78-year-old still managed to make $1.1 billion last year.
'It is, in a way, the culminating point of my life’s work,' he told national newspaper The Australian.
Soros is one of 25, top hedge fund managers from across Wall Street who have defied the credit crunch crisis to reap a total of $11.6billion (£7.9bn) last year.
(Excerpt) Read more at dailymail.co.uk ...
Um.
That was NOT a joke. No part of it was a joke. Be warned. The Blitz has begun.
Me too.
Don't forget Soros' numerous SUBprofiteers, like Chuckie Schumer, who's deliberate public comments caused the first domino (Fannie Mae) to topple...beginning a process that I predicted would not end until The One was elected and His Economic Policies would miraculously Heal the Economy (along with The Earth, while also lowering sea levels, of course)
Soros is making money because his hedge fund is on the winning end of speculative bets on derivatives and credit default swaps. The firms on the losing end of these bets were financial institutions like Citibank and AIG. In a sane world, they would have been forced into bankruptcy for their stupidity, and Soros would be scrambling to collect a few pennies on the dollar alongside other creditors in bankruptcy proceedings. Instead Citibank, AIG and others were deemed too big to fail, and provided with an unlimited store of ordinary citizens’ cash via the TARP program.
So the money goes directly from our wallets to Soros bank account thanks to the TARP program. Bankruptcy should have been allowed to take it’s course.
At least in their wildest fantasies. It won't happen in fact, because everyone is conditioned to think things like "this is terrible, what is someone else going to do about it?"
It makes us feel less impotent.
Disclaimer: I am not advocating assassination. I AM commenting on modern pop psychology. TEA parties are a better option for now, combined with joining SarahPAC and Glenn Beck's 912 Project.
Look at what happened to JFK — and he didn’t piss off nearly as many people. Just the wrong ones.
Well...if you piss of thousands or even millions of people, it only takes one to snap.
If people are desperate enough to kill their own family and themselves, they won't think twice about Soros.
Unless he has Secret Service level security to watch every window and never goes outside, I'd say his odds aren't good.
...so many strawmen, so little time! CNBC’s Kudlow just pointed out that Geithner is basicly asking the UNREGULATED hedge funds and UNREGULATED private equity funds to help bail out the REGULATED banks! more to follow...
May he rot in hell.
For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
AMEN!
When you say he was on the “winnning end of speculative bets” I take it you imply that he betted these CDS would go south? How would he have then won if TARP came to the rescue of Citibank etc that drove their stock up north again?
RIGHT BUT....
Will someone SUE THIS MAN so that he could be unmasked and hese maneuvers exposed?
Soros must have a mansion around NYC - maybe Long Island or Connecticutt. That should be convenient for ACORN.
From comments he has made in the past it seems his life’s dream is to take down the United States. Remember when he said that he wanted the United States to not be the number one power. Remember when he spent a fortune trying to defeat Bush? Bernie Madoff is a choir boy compared to this guy.
Someone was talking about that a few weeks ago, I forget whether it was Michael Savage or Jerry Doyle.
Suddenly millions of dollars were taken out of the money market funds within an hour. I think it was the money market funds.
You want a good crisis Soros? I’ll give you a good crisis.
And the great part...Soros will stand before God one day and answer for every single thing he's ever done.
He isn't getting away with anything.
“Neither their silver nor their gold
will be able to save them
on the day of the LORD’s wrath.
In the fire of his jealousy
the whole world will be consumed,
for he will make a sudden end
of all who live in the earth.”-Zephaniah 1:18
Soros is a crisis.
Ha.
Let’s see if Zero tacks a big tax surcharge on his “owner”.
I am certain he is the one who actually triggered this crisis and who engineered Obama as the winning Presidential candidate as just another step in the formation of the New
World Order. Idiot Obama is just another puppet...
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