Converting the Preachers- George Soros launches a $50 million effort to purge economics

newsweek ^ | Oct 27, 2009 | Michael Hirsh

[opentalk]

Large swaths of economics are going to have to be rethought on the basis of what's happened." So said Larry Summers, President Obama's chief economic adviser, in an interview in the weeks after the markets crashed a year ago. Yet to a remarkable degree, economic thinking hasn't changed very much at all. (Click here to follow Michael Hirsh).

Now financier George Soros is announcing a $50 million effort to speed things along. This week Soros is gathering some of the leading practitioners of the market-skeptic school, who were marginalized during the era of "free-market fundamentalism," among them Nobelists Joseph Stiglitz, George Akerlof, Michael Spence, and Sir James Mirrlees. He's also creating an "Institute for New Economic Thinking" to make research grants, convene symposiums, and establish a journal, all in an effort to take back the economics profession from the champions of free-market zealotry who have dominated it for decades, and to correct the failures of decades of market deregulation. Soros hopes matching funds will bring the total endowment up to $200 million. "Economics has failed not only to predict and explain what happened but has also failed to protect society," says Robert Johnson, a former managing director at Soros Fund Management, who will direct the new institute. "That's what the crisis revealed. The paradigm has failed. There is no guidance."

[silverleaf]

How old is George Soros? How many more years of damage can this man do...?

[Brilliant]

The main thing that needs to be rethought is Keynesian, and the efficacy of government regulation as the solution to all economic problems.

[ronnie raygun]

Does anyone need more proof that we have been taken over quietly by these subhumans? We play by the rules and they don’t!

[opentalk]

How old is George Soros? How many more years of damage can this man do...?

I was thinking the same thing. He's eighty, seems bent on taking US down in his lifetime.

[GeronL]

We haven’t had free markets in 90 years, at least

[GeronL]

I am sure they will come up with a private-public partner model of some kind. Whatever Soros tells them to do.

[Diogenesis]

Can you say DNC-PLANNED October Surprise"? Of course you can.

PART 1: - Incredible, proven, systematic, pro-Clinton, pro-Obama, pro-RINO, media Bias.

So much bias that even Bill Clinton finished ***Third*** in Battle for Campaign Coverage

---

PART 2: - Endless Loans to Illegal Aliens, and then the Gambling Bankers without Accountability

---

PART 3: October Surprise to THROW Election2008, driven by Paulson/Geithner/Dodd/Obama and the so-willing MSM.

Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks"
"On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve
noticed a tremendous draw down of money market accounts in the USA
to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically. The treasury tried to help with $150 Billion.
But could not stem the tide. It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon.
Within 3 hours. $5.5 Trillion would have been withdrawled
and collapsed and within 24 hours the world economy."

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FLASHBACK: from 9/15/08:

“U.S. President George W. Bush said Monday he is confident
that the markets are resilient and can deal with the latest financial blows.
“We are working to reduce disruptions and minimize the impact
these financial market developments on the broader economy.” ...

U.S. Democratic presidential candidate Barack Obama
said eight years of Bush “brought us the most serious financial crisis
since the Great Depression.”

His Republican rival said John McCain said he was happy the
federal government decided not to use taxpayer dollars to bail out Lehman Brothers.”

How did Obama know THEN
that we would experience the ‘most serious financial crisis since the Great Depression’
when those who did not plan the takeover would not know for three more months?

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[dalebert]

lol thought he was dead....anyone know details of his history?

[cripplecreek]

He has several children who are heavily involved in the same sort of things.

[coydog]

I wonder what some old man who already has more money than he could spend in ten human lifetimes wants to take down the system that gave him his success? An ego thing?

[dangus]

Jewish Nazi. No kidding.

[ElayneJ]

How bizarre. Either something is true or it’s not. Markets weren’t developed in accordance with some theory - theories are developed to explain what already exists.
Who in Washington is going to stand up and say STOP?
(Never mind, I think I know.)

[Wisconsinlady]

2+2 now equals 5 no matter what we think now.

[org.whodat]

"Economics has failed not only to predict and explain what happened but has also failed to protect society," says Robert Johnson, a former managing director at Soros Fund Management, who will direct the new institute. "That's what the crisis revealed. The paradigm has failed. There is no guidance."

Wrong, it was dead on, the only problem was and is that the smarter than god crowd thought they ruled the universe and they there for were exempt from the laws of supply and demand.

As I have said before, many times I ask my banker how many people did he think were able to afford a $250,000 house. His banks has no trouble.

[org.whodat]

How bizarre. Either something is true or it’s not. Markets weren’t developed in accordance with some theory - theories are developed to explain what already exists. Who in Washington is going to stand up and say STOP? (Never mind, I think I know.)

Bingo!! You win !!!!

[WashingtonSource]

Could someone please slip a packet of strychnine in Soro’s coffee? He needs to shuffle off his mortal coil and go directly to Hell. Satan is waiting for him.

[parsifal]

This is a good thing. The Ayn Rand’ers types have screwed up the economy once again. It is ironic that Larry Summers is in agreement after he helped create this mess/

parsy, who hopes some old dogs can learn some new tricks

[Just A Nobody]

Now financier George Soros is announcing a $50 million effort to speed things along. This week Soros is gathering some of the leading practitioners of the market-skeptic school, who were marginalized during the era of "free-market fundamentalism," ... He's also creating an "Institute for New Economic Thinking" to make research grants, convene symposiums, and establish a journal, all in an effort to take back the economics profession from the champions of free-market zealotry who have dominated it for decades, and to correct the failures of decades of market deregulation.

Wow...THIS George SOROS???

On Black Wednesday (September 16, 1992), Soros became immediately famous when he sold short more than $10 billion worth of pounds, profiting from the Bank of England’s reluctance ...

Finally, the Bank of England was forced to withdraw the currency from the European Exchange Rate Mechanism and to devalue the pound sterling, and Soros earned an estimated US $1.1 billion in the process.
He was dubbed “the man who broke the Bank of England.”
_____________________________________________________________________________________________

Soros tells the West: We must reform to help poor
Mr Soros is still blamed for triggering the Asian crisis of 1997 which started a chain reaction that led to the Russian loan crisis, the near collapse of the hedge fund Long Term Capital Management and finally the Brazilian crisis in 1999.
Mahathir Mohammed, the prime minister of Malaysia, famously called him a “moron”.

In his book, Mr Soros denies claims that he started the crisis as a “wholly unfounded”.
Instead he blames the international financial system and argues that this is one of the reasons why it needs to be more tightly controlled.
____________________________________________________________________________________________

Soros Calls His Felony Conviction in France "A Gift to My Enemies in the U.S."
February 24, 2009 (LPAC)--Nazi protege George Soros, who has committed crimes such as participating in the roundup of Jews in Nazi-occupied Hungary during World War II, and speculating against currencies and thereby causing mass deaths in nations as a business career, is enraged over his 2002 felony conviction in France for insider trading

Soros's indictment arose from a vast scam targeting one of a France's oldest, nationalized banks, Société Générale (SocGen) for privatization. Eleven high-level financial operatives were indicted in the scam; some, like Robert Maxwell, and Edmund Safra, were killed in mysterious and bizarre accidents while the case dragged on. Soros was the only one found guilty.
_______________________________________________________________________________________

Soros and Russia, too?
He had already been widely proclaiming that it was his own machinations that brought down the Soviet Empire. When asked about his sphere of influence in the Soviets' demise for a New Republic interview in 1994, Mr. Soros humbly replied that the author ought to report that "the former Soviet Empire is now called the Soros Empire."
_________________________________________________________________________________________________

"The main obstacle to a stable and just world order is the United States."
-- George Soros, June 2006

"The main enemy of the open society, I believe, is no longer the communist but the capitalist threat."
-- George Soros, February 1997
_________________________________________________________________________________________________

And there are still folks that wonder what happened last September!

[Just A Nobody]

anyone know details of his history?

Read the links I provided in post #19. It is enough to make you have nightmares.