TheHill.com - Soros floats alternative bailout plan with Dems
The billionaire financier George Soros, a major Democratic financial backer, is floating his own rescue plan among Democratic lawmakers who are uncertain what to do in the wake of a surprise defeat of a proposed $700 billion rescue package proposed by Treasury Secretary Henry Paulson.
Soros has outlined his plan in an opinion editorial in the Financial Times and circulated a concept paper among decision-makers.
Specifically, the liberal philanthropist has proposed that government funds should be used to recapitalize the American banking system by purchasing equity in banks and investment firms.
Basically, Soros is proposing that the US government buy (nationalize) the banking system.
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Former(?) KGB agent? The word extortion comes to mind. The fact that he seems bent on making the world socialist brings to question the “former”.
The poorer everyone else is, the farther your money goes. Now that he’s got his, making the proletariat tools of the machine gives him enormous power without the hassle of becoming a politician. (Why go through that when you can just buy all you need?)
We’re going to see a lot more of this. Google is setting up to be the next Soros.
He’s a smart guy and an extremely savvy investor - former student of Karl Popper, in fact. However, while he claims to be a critical rationalist, capable of altering his beliefs when the facts contradict them, his actual Leftist behavior doesn’t bear this out. Then again, he was a big supporter of Solidarity, so “communist” doesn’t seem to fit. He seems to support welfare statism but not full-on totalitarianism. Only time will tell if that’s a distinction with a difference.
http://en.wikipedia.org/wiki/George_Soros
As to where he made his money, he’s the man who “broke the Bank of England” shorting the pound sterling.
http://en.wikipedia.org/wiki/Black_Wednesday
He was also implicated in the Asian currency crisis in the late 1990’s.
If there’s anyone alive today who deserves the tag “evil genius”, I’d say it’s Soros.
To paraphrase Ayn Rand, George Soros is a man not deserving of his money.