'I'm having a very good crisis,' says Soros as hedge fund managers make billions off recession

Now we know why Soros was hyping the crisis

‘I’m having a very good crisis,’ says Soros as hedge fund managers make billions off recession

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 global storm.

All his assets need to be seized and he needs to be put in a cell with Maddoff . :mad:

My thought when I saw what the Stock Market has done with the BAD news this past few days was, I wonder if Soros is putting money back into the market so he can undermine any true recovery. This wile I was driving back from a Dr appointment. OK I am a conspiracy theorist.:shrug:

Soros maybe doing the correct things, why do you assume he does illegal or immoral things?

Did you remember or ever read what he did to the English currency? It was how he made his first billions.

Sounds like he planned ahead and then benefitted from it. Good for him. Too bad more people didn’t do the same.

Someone care to fill me in? I’m pretty ignorant when it comes to all this.

search.aol.com/aol/search?q=Soros+and+English+Currency&s_it=spelling

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You don’t need to be a conspiracy theorist. In Soros’ own words:

"When I sold sterling short in 1992, the Bank of England was on the other side of my transactions, and I was in effect taking money out of the pockets of British taxpayers. But if I had tried to take social consequences into account, it would have thrown off my risk-reward calculation, and my profits would have been reduced. "

Now, Soros financed Obama’s election. (He still finances the internet sites that vilify conservatives and praise Obama.) Suddenly, when, to everyone’s surprise, Obama began to beat Clinton, commodities were pushed to astronomical heights by speculators. Then, when everybody thought it was time to buy oil, corn, etc, they were hugely shorted, and crashed, further siphoning off the assets of investors and the businesses who depend on commodities. Then staggering numbers of short sales blasted the stock market, particularly the stock of banks and other financial institutions. Then the government steps in with the Geithner plan to subsidize and guarantee the sale of unimaginable amounts of “toxic assets” owned by banks and other financial institutions, whose value had been driven down massively. And now the taxpayers of the U.S. are going to pay for the unprecedented fortunes that will be made when, under the Geithner Plan, the Fed will grant low-interest, non-recourse loans to buy, at huge discount, the assets which no one will now buy because they’re just too huge for all but a few, and those few have not yet been offered a deal good enough to suit them. A good, stiff dose of inflation will re-inflate their value, and, again, drive down the value of the assets of ordinary people.

You might not be such a wild-eyed conspiracy theorist after all, KathleenElsie. You just might not be.

And Soros’ man is just started in running the nation.

Compared to Soros, Madoff is like a kid in a convenience store stuffing a stolen Snickers bar into his book bag.

And I’ll bet 11 billion doesn’t even begin to disclose what Soros has made and will yet make on this financial crisis. And he doesn’t act alone, either. He didn’t when he broke the Bank of England (its Federal Reserve) or the economies of the “Asian Tigers” earlier. He’s not finished.

And his activities and those of the ones like him will never be investigated either. The Democrat Party might favor socialist measures for us “little people”, but it’s Robber Baron capitalism for their super-wealthy financial backers.

How can the excessive greed of individuals be good?

yeap

When the Bank of England was lying to the public rather than cry Soros took high risk bets that the bank was lying. The bank was lying and Soros collected big bucks on his money

The Bank of England made the change not Soros

The Bank controlled the currency. The bank was manipulating that currency and Soros knew it so he bet opposite. Had the bank not been manipulating the currency Soros would have lost his money

Madoff has admitting to having stole money. Soros bought contracts and honored those contracts, if you believe Soros stole any money report it.

I’m going to have to side with Texas Roofer here.

I do think that many people made off with an awful lot of money they didn’t deserve as a result of this crisis and the accompanying poor decisions by the government. However, at least based on what I could glean from the article, Soros is not one of those people.

Soros made his money by accurately predicting the crisis and preparing for it. He deserves every penny. The banks and insurance companies should have been as smart as he was. If they had been, there would be no crisis.

Although there were many causes of the crisis, ONE of the reasons is failure by banks and insurance companies to appropriately hedge their risk. Why is that? Because in the short term, it was more profitable for them to ignore the risks. Many didn’t even believe there was any risk to hedge, despite massive amounts of evidence to the contrary. It’s the job of these institutions to manage risk. That’s why they exist. That’s the function they’re supposed to perform for society. They didn’t do that job because they were greedy and ignorant. Soros recognized this and was able to capitalize on it, and as far as I can tell, he did it through entirely legitimate means.

The same holds true for the Bank of England. It may not have been very nice of him to do that to England. In my opinion, it certainly wasn’t. But if the Bank of England was doing its job properly, it shouldn’t have been possible for someone like George Soros to capitalize on their position in that way.

Madoff did not admit to having stolen money. He admitted to having operated what was, in effect, a ponzi scheme; not quite the same thing. You know, I have never seen any clear evidence that any of the 19th Century Robber Barons stole anything either. They simply took advantage of the weakness they perceived in others, and were undeterred by the harm they were inflicting on others in their actions.

It’s truly fascinating to see liberals defend robber baron capitalists who take laissez-faire to its outer limits. AIG execs with clear contractual rights that really don’t affect ultimate outcomes, are treated like criminals for exercising them, and activists are dispatched to harass them in their homes, while someone who intentionally acts in ways that seriously harms whole societies is praised for his prescience and boldness.

Someday, Soros will no doubt proudly write a book about how he and others crashed the U.S. economy. And leftists will praise him even so. Just like now.

Right… penalize the guy who got it right.

Your comment isn’t about right or wrong. It’s about his politics.:shrug:

It’s called the Democratic Party. It’s been called that since 1792.:mad:

It makes one wonder if financing someone like Obama was not part of Soros’ plan all along.

A Ponzi Scheme is the same thing as stealing money. Through fraud, Madoff got people to give him money. He made them believe they were getting a great return on their “investment”, but he was lying to them. He pocketed their money. That’s why he’s in jail.

Probably. I think Soros is a Democrat.

Maybe we should look at the executives at Bear Stearnes, AIG, Citibank, Chase, WaMu, etc. and see who they voted for.

When I was a young man, first getting very actively involved locally with the party, I was told in no uncertain terms by long-time local Democrats that it’s “Democrat Party”. The explanation I was given was that it is a “party of Democrats”, not a party with “Democratic” in its name; an emphasis on the members, not the party self-description. A sort of Jeffersonian way of seeing things.

I don’t know where else that was a tradition, if anywhere, but I have followed it all these years out of a sense of respect for those old-style Democrats; few of whom are left, and am not going to change now, notwithstanding that the party I grew up in and in which I held office myself, is no longer even recognizable as the party it once was. Despite its enthusiasm for becoming the “Party of Death”, I still do have some nostalgia for the party of Truman, Kennedy, Symington, Scoop Jackson, Hubert Humphrey and, yes, Lyndon Johnson; notwithstanding that none of them would be favored by the Democrat party of today.

And someone who artificially pushes prices up to attract the unwary, then depresses them below their intrinsic value to panic the faint-hearted is not, in a sense, “lying”?

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