Thursday, February 12, 2009

Did George Soros Trigger the Banking Crisis?

Hey, I’m just askin’ (H/T: Protein Wisdom).

In any event, if there was an electronic bank run of $550 billion dollars, then someone in the government must know where it was going - but, interestingly, they’re not saying. If we’ve got to choke down a trillion dollar shitburger, in addition to the TARP money, we ought to at least demand some explanations. Transparency, anyone?

My own guess is that investment funds and other large holders of liquid assets – spooked by recent and likely failures of insurance companies, banks and Fannie Mae - saw a collapse of the financial system as imminent and, depending on your point of view, either (a) panicked, or (b) reacted in perfect accordance with market signals; however, I wouldn’t be at all surprised if Soros helped to nudge things along (he stands to profit from the purchase of toxic assets), and he has sparked at least one financial crisis before.

4 comments:

Mikael said...

Soros made a gazillion bucks screwing up the world's monetary systems, and now he goes around telling everybody that capitalism is a bad thing.

Give me frigging break!

Paco said...

A leftist with a billion dollars; very scary...

Anonymous said...

Very scary. And the ultimate in hypocrisy.

Anonymous said...

And which candidate did he help to sell to the gullible public?