The man is dirty and we all know it. He's an anti-semitic Jew who turned in his own during World War II. Ain't that right Gyorgy Schwartz?
from The Daily Mail:
'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
By Mail Foreign Service
Last updated at 5:13 PM on 25th March 2009
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.
The managers made their profit by trading above the pain in the markets, according to Institutional Investor’s Alpha Magazine.
Former maths professor James H. Simons, who has made billions in hedge fund Renaissance Technologies, earned $2.5 billion running computer-driven trading strategies.
And John A. Paulson, who made his fortune by betting against the housing market, came in second earning $2 billion.
The managers made the profit in a year when losses were recorded at two of every three hedge funds and when hedge funds lost an average of 18 percent, according to the New York Times.
Two of the three managers who tied for ninth place, at $250 million, are based in Britain and include David Harding of Winton Capital and Alan Howard of Brevan Howard Asset Management.
Another Brevan Howard employee Christopher Rokos also made the list.
The profit comes at a time when the U.S Government is scrutinising Wall Street pay and when hedge funds are facing proposals for new taxes on their gains.
Despite the global financial crisis, the combined pay of the top 25 hedge fund managers still managed to top every year before 2006.
Mr. Paulson said his pay was high, partly because he is the largest investor in his fund and that he did not receive a bonus.
He said the the pensions, endowments and other institutions which invest in his fund do not object to the profits he and his team make.
'In a year when all their other investments lost money, we’re like an oasis,' he said in the Times.
'We have investors who were invested with Madoff, and they can’t thank me enough.'
THIS GUY is an anathema to all free thinking peoples everywhere, of all religions, colors, and nationality.
ReplyDeleteI don't mind that he did what he did to get started and remain alive during WW2, one never knows what one will do ..but to have told various interviewers that he hasn't the slightest bit of bad conscience about it tells us ALL we ever have to know about this man and his inner compulsions.
Not only did Soros not feel any guilt or remorse for what he did to survive, he thought it "funny" . Below, you will find this quote from his 60 minutes interview:
ReplyDeleteKROFT: (Voiceover) And you watched lots of people get shipped off to the death camps.
Mr. SOROS: Right. I was 14 years old. And I would say that that's when my character was made.
KROFT: No feeling of guilt?
Mr. SOROS: No.
KROFT: For example that, 'I'm Jewish and here I am, watching these people go. I could just as easily be there. I should be there.' None of that?
Mr. SOROS: Well, of course I c–I could be on the other side or I could be the one from whom the thing is being taken away. But there was no sense that I shouldn't be there, because that was–well, actually, in a funny way, it's just like in markets–that if I weren't there–of course, I wasn't doing it, but somebody else would–would–would be taking it away anyhow. And it was the–whether I was there or not, I was only a spectator, the property was being taken away. So the–I had no role in taking away that property. So I had no sense of guilt.
****
Soros has been lining his pockets and feeding the political machinations of his ambitions through the manipulation of Malaysian, French, British and now the American financial markets without the slightest bit of remorse.