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Betrayed By His Master – Article Completed



Jan 27, 2010 10 Comments ›› Erik Wong

george-soros

Thanks to user “escapedcommieny” for providing the link to the rest of the article.

DAVOS, Switzerland, Jan 27 (Reuters) – Billionaire financier George Soros said on Wednesday U.S. President Barack Obama’s plan to impose a tax on large banks was premature and his wider proposals to rein in banks’ activities may not go far enough

“To tax the banks when they are doing everything they can to get out of a hole is the exact opposite of the policy you are trying to pursue,” Soros told a meeting on the fringes of the World Economic Forum in Davos.

Obama has said Wall Street banks should pay up to $117 billion to reimburse taxpayers for the financial bailout.

Soros, who made his fortune placing large bets in financial markets, said he was in favour of Obama’s other more sweeping reform, which aims to prevent banks from engaging in proprietary trading or investing in hedge funds or private equity funds.

But he said the proposals may fall short.

“Some banks will spin off their investment banks and they will be very substantial and they will be too big to fail,” Soros said.

He acknowledged massive financial and trade imbalances, particularly between the United States and China, would need to be addressed in order to prevent future bubbles. This would require China to let its exchange rate rise against the dollar.

“The case for revaluing the renminbi is getting stronger and stronger,” he said.


  • GRIZZ

    now replace that finger with the barrel of a .357….

    • http://patrioticspace.ning.com/ Rosie

      :beer: :gun: :beer:

  • LechWalesa

    I pity him, poor guy, he is goin to get broke with taxes on his amount of fortune

  • Nanny

    Read this at another site:

    The danger to America is not Barack Obama but a citizenry capable of entrusting a man like him with the presidency. It will be easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgement to a depraved electorate willing to have such a man for their president. The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ailes us. Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The republic can survive a Barack Obama, who is, after all, merely a fool. It is less likely to survive a multitude of fools such as those who made him their president.

    And therein lies the problem. Soros, Pelosi, Reed, Frank and the ilk that keeps company with them and the uneducated voters who vote them in. They are all a form of cancer that our country needs to rid itself from.

    • thrasymakhos

      “…depraved electorate…” Hmmm Hmmm Hmmm

    • Bobby E

      That’s fine. One day that ‘depraved electorate’ can be eradicated … or exiled.

  • escapedcommieny
    • thrasymakhos

      Thanks! Good stuff.

  • cuchieddie (Enemy of the State)

    Yes Nanny and that is why I favor the guillotine. :mad: :mad:

  • richwill

    Soros is more dangerous than his minion Hussein. Soros is the puppeteer and Hussein is the broken puppet. It is amazing how fragile his (Hussein’s) adminstration is; one senatorial election and it falls apart. If one thinks Hussein was lying previously, listen to him now.