My Conversation with George Soros

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Posted April 11, 2008 | 05:25 PM (EST)



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George Soros is many things: a billionaire investor, an author of 10 books, and a political activist. He recently spoke with me about the credit crisis and the global fallout from the weakening dollar. Here's a look at that conversation:




 
 

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- Michaellgooch See Profile I'm a Fan of Michaellgooch permalink

I heard George Soros say Big mistake, Bubbles and Bailout. I have another B word for him. Bull Butter (actually 2 words) Not everything that is legal is ethical. Not everything that is ethical is legal. This is an absolute truth that used to be understood and is nowadays dismissed as old fashioned. In my book, Wingtips with Spurs: Lessons From the Ranch, I devote an entire chapter to ethics and specifically discuss the difference between legal and moral. Like this article, more people should be standing up and shouting. If not, we may very well be doomed. These organizations have negative results because the people on board cannot tell the difference between right and wrong. Due to scope, these consequences usually take longer to materialize, but is the result the same? You have to rely on moral law, that is, does it "feel" wrong? It"s easy to say, "There is right, and there is wrong." In my management book, Wingtips with Spurs, I address these issue in detail. All major corporations have their written code of conduct. Each one is pretty much just a copy of the others and is a major dust bunny. The next time you walk into someone"s office, ask to see the company code of conduct. Good luck on finding someone who will produce it within five minutes. The moral law is much easier to find and digest. It resides in each of us.

    Favorite    Flag as abusive Posted 09:37 PM on 04/13/2008
- SamThornton See Profile I'm a Fan of SamThornton permalink

With friends like disaster capitalist George Soros, the Democratic Party needs no enemies.

    Favorite    Flag as abusive Posted 07:26 PM on 04/12/2008
- Melissa See Profile I'm a Fan of Melissa permalink

He is one of the reasons I am leaving the Democratic Party.

    Favorite    Flag as abusive Posted 09:32 PM on 04/13/2008
- dadw5boys See Profile I'm a Fan of dadw5boys permalink

Disaster Capitalist????
Warren Buffet offered to re- insure all those companies problems. They chose not to re-insure with Buffet after their insurance companies bailed out.

THEY MADE REALLY STUPID LOANS that even Buffet would not insure those loans.

Ok, Disaster Capitalist as you call them. They serve a function in the system to correct the fall out and pick the peices when they system is broken.
The FED pre -empted and bailed out SO-CALLED BANKS THAT ONLY HANDELED INVESTMENT ACCOUNTS.
THESE ARE GAMBLERS!!!! NO DIFFERENT THAN ORGANIZED CRIME IN MY BOOK. 90% of those hedge fund investments are so full of holes the paper work could never be straightened out. In other words FRAUD because no one took the time to do the paper work completely which the insurers required to meet policy demands. So the insurers walks away scott free not paying any claims for loss.

    Favorite    Flag as abusive Posted 03:16 AM on 04/13/2008
- joebhed See Profile I'm a Fan of joebhed permalink

I agree.
Two days ago I wrote the same thing.
The question was: "What else could the FED do?".
The FED's job was to prevent this debacle.
They failed because of what they didn't do.
The FED's management of the nation's money supply resulted in a financial market meltdown.
A lot of the problem was not under the FEDs regulation. But, why was that?
Given the FED's responsibility for overall economic stability and full employment,
why did the FED allow the non-banks to grow to become the primary financial force.
When these free-wheeling, unregulated non-banks fail, they run to the FED.
The FED can't let them fail and destroy the global economy.
They sit down with Treasury and agree to put the taxpayer on the tab.
It doesn't matter the Chair or Board of the FED at any given time.
They are all private bankers doing what should be an essential government function - the creation and management of the money supply - of currency and credit.
You can't expect a certain group of bankers(really, really rich people) to step in and end the party for another bunch of really, really rich people.
It's only OK if they do it with their own money.
Abolish the private FED banking system, and establish the sovereign Central Bank of the United States.
Quoting Lord Acton:
The issue which has swept down the centuries, and which will have to be fought sooner or later, is the People versus the Banks."

    Favorite    Flag as abusive Posted 10:30 PM on 04/11/2008
- Thorn See Profile I'm a Fan of Thorn permalink

Whatever shill writes this running promo for you (and that's already so sad) is doing you no favors.

    Favorite    Flag as abusive Posted 06:23 PM on 04/11/2008
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