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Economic Crisis: The Culmination of his lifes work!

Discussion in 'Political Zone' started by Cajuncowboy, Mar 26, 2009.

  1. Cajuncowboy

    Cajuncowboy Preacher From The Black Lagoon

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    Been telling people for years that this SOB wanted to break America. Now that he has hand picked bum in office, he is seeing it come to pass.

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

    By Mail Foreign Service
    Last updated at 5:13 PM on 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.

    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.

    Big hitters: John Paulson and James H Simons were part of a group of 25 hedge fund managers who make a total of $11.6bn

    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.'
  2. sbark

    sbark Well-Known Member Zone Supporter

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    and the Left is taking "bus tours" to AIG homes.........while Soros is a hero to them.........
  3. JBond

    JBond Well-Known Member

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    F Soros. Scum of the earth.
  4. burmafrd

    burmafrd Well-Known Member

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    Frankly he is one of those if I saw him walking anywhere where I could get to him I would run him over, back up till my rear wheels of my truck are on top of him, downshift then hit the gas!!!
  5. ninja

    ninja Numbnuts

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    Waterboard this chump.

    Why are hedge funds legal? Hedge funds do nothing but rob the economy of wealth, take from those that produce something and give to those who produce nothing and just look for ways to manipulate the market.
  6. DIAF

    DIAF DivaLover159

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    George Soros is a hedgefund manager. These people basically make giant bets, and he bet correctly. Now, go hate him for his personal politics or whatever, but don't hate him for his success. The guy certainly knows what the hell he is doing. He's earned the right to be smug on his successes; he foresaw it and prepared appropriately.

    What? Do you know how a hedge fund works, and who is typically allowed to participate in one?
  7. theogt

    theogt Surrealist Zone Supporter

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    I'm going to say doubtful.
  8. trickblue

    trickblue Old Testament...

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    I hate ferners attempting to dictate our policy... that is my issue with him...
  9. Rogah

    Rogah Well-Known Member

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    He bet his entire fortune on the economy going down in flames and then he went out and supported every single Democratic candidate in sight.

    Hmmmmmmmmmmmmm.......... :D
  10. MetalHead

    MetalHead Benched

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    So he places giant bets huh?
    You conveniently forgot to point out how he influences the outcome.
    Familiar with MoveOn.org?
    Is it a clean bet?
    Think about it.
  11. DIAF

    DIAF DivaLover159

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    Do you actually think moveon.org has anything, anything to do with the economy tanking? This economy has been heading south for over a year before we finally fell off the cliff in Sept., paying for years of living high-on-the-hog on money we don't have, exacerbated by companies getting a little too greedy for short-term gains. As far as I can remember, the guy Soros wanted to get OUT of office was still in control then. And Soros made all this money in fiscal year '08. Before Obama won, and well before he took power. So, he influenced the outcome? It was somehow not a clean bet? He rigged the system? Look, I don't like the man either, but good lord, let's shelve the Conspiracy theories, shall we? I don't want to pull a "I work for so and so, so I'm really getting a kick out of these replies..", but I spend my entire work day with my nose in this crap.
  12. MetalHead

    MetalHead Benched

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    Follow where his political donations go and come back to me.
  13. DIAF

    DIAF DivaLover159

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    And? We all know where his donations are going. You missed the entire. Point.

    1. Republicans are in charge while Soros is making his bets.
    2. Soros hits and makes all this money while Bush is still in office.
    3. Soros makes all this money before Obama is even elected to the Presidency

    So you mean to tell me that Soros, infamous supporter of liberal causes, is somehow responsible for this by donating to Obama and his pals? Unless Soros has a time machine, I don't see how what you allege is possible.
  14. trickblue

    trickblue Old Testament...

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    I think the point is that Soros makes his fortunes under Republican leadership, while donating only to Dems...

    Personally, I could care less about what party he makes his money from, but I do resent him injecting himself into our policies all of the time...
  15. MetalHead

    MetalHead Benched

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    1.2003 Bush and McCain warn about the housing bubble.
    2.2004 Barney Frank and other Dems stop the Freddie and Fannie investigation..there were no "irregularities".
    3.2006 Dems gain power of US congress,the meltdown they created begins.

    Clean bet?
    If you can't see Soros' print,then go play blind man and walk the Earth.
  16. DIAF

    DIAF DivaLover159

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    yes, that is exactly my point.

    Im talking to Artie, refuting his conspiracy-like assertion that Soros is somehow making money by donating to democratic causes, when those same democrats weren't even in position to give him what he wants yet. There's nothing shady going on here, at least not on that level. Soros predicted a fall, hedged his bets, and rode out that same fall all under Republican watch. Sounds pretty smart to me. I did the same thing with my 401k last year, albeit on a much smaller scale. Once the chinks in the armor started showing it didn't take a genius to realize what was gonna happen. Just mattered how fast you got in and out...this is essentially what Soros did.
  17. DIAF

    DIAF DivaLover159

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    This is utterly RIDICULOUS. You are essentially saying that Soros not only got each and every one of them elected, he also paid them all off to destroy the US economy so he could make some money. That sounds just as idiotic as the libs alleging the same thing with Bush in the early 00s (just replace "Soros" with "Halliburton")

    2. and 3. did not wreck the economy. 2) Numerous idiot lenders (including, but not limited to Fannie and Freddie), people gorging themselves on cheap credit, banks repackaging all this credit debt and securitizing it, insurance contracts, and about 30 other things all contributed to it. 3) The ship was already sinking before Democrats took control of congress. We've been warned since the dot-bomb that the housing bubble would one day come to an end, americans weren't saving enough, etc.

    One last time; I work in this field. While I do not manage a fund, or work for an investment firm, I'm the guy (one of several) that manages all the data (and the money) that comes from you and your employer to the trusts that do the rest of the legwork for your retirement plan. I'll take what I know about the industry over conspiracy theories any day.

    Blind man? I can clearly see what I'm talking about. Whereas you are stabbing in the dark based upon some garbage you were fed by a blog or talk radio.
  18. theogt

    theogt Surrealist Zone Supporter

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    Soros supports Democrats. Soros made money. Therefore Soros and Democrats are dirty.

    It's foolproof logic.
  19. MetalHead

    MetalHead Benched

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    Ever since I posted that infamous thread about Alex Jones,you have done nothing but link me with conspiracies.
    Read all your posts where you quote me,there is a pattern of "gotcha" idiocy.The C word is ever present as if it was the only big word you know.
    It's like the last round you have in your chamber.You keep thinking you got me with a big cannon,when in reality,we all know all you got is a plastic water gun.
    Let it go man...
    See DIAF, the 9/11 commission cited "lack of imagination on our part" one of the reasons the terrorists were able to harm us.
    That means they were thinking like you,or better yet not thinking at all.
    Get a history book and find out that all through out mankind there has been people on top and the rest trying to take them down.
    Get out of Georgia...see the world,it will help you understand it,that is of course,if you make it.
    I have my doubts.
  20. DIAF

    DIAF DivaLover159

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    What a worthless post. You couldn't refute anything I said, realizing that on this particular topic I have you beat, so all you can come back with is "Stop victimizing me. You don't think. Get out and see the world. Go read a book"

    In other words, the argument White Flags of Surrender.

    Your soros theory IS a conspiracy, dude. Go back and read it. You alleged that Soros conspired to wreck the economy to make money. It is what it is.
    Strike 1.

    Last round in the chamber? Every single one of your posts can be broken down as such
    1. Obama sux
    2. Liberals are destroying America!!!!1!1!
    You do not even try to engage in any sort of discussion on this board. You say something you hear repeated on talk radio, and then proceed to browbeat anyone that disagrees with you with insults and posts like the above.
    Strike 2.

    Lack of Imagination? Get out of Georgia and see the world? I have been all over Asia and Europe. I've spent extensive time overseas, especially as a youth while my dad worked on long projects in Venezuela, Saudi Arabia, the UK, and Malaysia.
    Strike 3.

    In summary:
    1. You couldn't prove your Soros Conspiracy to Destroy the Economy
    2. You had no idea how investment funds (hedge or otherwise) worked
    3. You opened your mouth and didn't realize there was someone out here that actually DOES know how all this works and who has dealt with it every day for 5+ years.
    4. So, instead of shutting up, you pull out the "Oh, vendetta against me! I know more than you, kid! etc. Educate yourself" line to try and save some face.

    You should probably just stop now.

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