George
Soros is arguably the most visible of America's enemies, so it stands
to reason that when stuff starts happening to us monetarily that worry
about what he's doing behind the scenes will surface. Count me as
a worrier who expects nothing but very bad behavior from this erstwhile
Hungarian Nazi. Chuck Martel sends me this WSJ piece ... Trader Made Billions on Subprime , and asks "What if Soros is going to short the entire U.S. economy?"
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Wall Street, the losers in the collapse of the housing market are
legion. The biggest winner looks to be John Paulson, a little-known
hedge fund manager who smelled trouble two years ago.
Funds he runs were up $15 billion in 2007 on a spectacularly successful
bet against the housing market. Mr. Paulson has reaped an estimated $3
billion to $4 billion for himself -- believed to be the largest
one-year payday in Wall Street history.
*snip*
Word of his success got around in the world of hedge funds --
investment partnerships for institutions and rich individuals. George
Soros invited Mr. Paulson to lunch, asking for details of how he laid
his bets, with instruments that didn't exist a few years ago. Mr. Soros
is famous for another big score, a 1992 bet against the British pound
that earned $1 billion for his Quantum hedge fund. He declined to
comment.
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By the way, I am in no way condemning people like Paulson who take
advantage of other people's timidity and stupidity in high stakes
games. I do worry about Soros because he has the wherewithal and
disposition to do things to hurt this country as part of a political
agenda.
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