Wednesday, July 27, 2011

George Soros Greed Avoids Government Accounting

The 19th century German philosopher Arthur Schopenhauer once said, "The foulest non -productive professional was a Jewish stock operator". Was he describing George Soros? I knew a senior trader who once worked for George Soros. He told me, " That if you ever meet a Hungarian Jew [George Soros], sock him! He will know why! The trader said Soros was slow pay and short pay. In a way,Schopenhauer was somewhat supported in his opinion some 100 plus years later.

Georgy boy is in the news today. He's giving back "outside" managed money because the new Dodd Frank rules have just kicked in. Those rules will require greater reporting by Soros to the SEC about how he makes his money. Conincidentally another repoting requirement also kicked in. It requires high-frequency traders, that includes Soros, to report their trading activity to the S.E.C the FOLLOWING day. That type of trading was responsible for the "flash crash". So his possible destablizing market operations would be quickly examined.

Obviously Soros can't stand regulatory light on behavior. He would have gone no where on Wall Street if the rat traps were better years ago. He should be considered a persona non grata .

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