Did Soros Help Tank the US Economy?


I seem to remember saying that something about the timing of this whole financial crises bugs me.  I must put a disclaimer on this, very quickly.  I am a financial idiot.  All I really know about money is it takes a heck of a lot of it to feed my shoe addiction.  My other rule of thumb is that I rarely write checks because my dyslexia is so bad.  If I transpose just a couple numbers, I’m overdrawn.

Perhaps I am just giving in to Democratic induced paranoia, or am simply exhausted after such a long weekend, but I keep going back to my question – WHY NOW? If things have been so bad for so long why did everything break at just the perfect point before the election to benefit Barack Obama.  I’ve reached the point where I wonder just how deep his lying duplicity goes.  Why does someone want an elected office so badly that they would not only sell their own soul but the souls of those around them?

If Ed Lasky is correct in his American Thinker column, maybe I’m not all that paranoid.  Lansky has uncovered a George Soros connection.  When one considers the fact that Soros is more like some James Bond villian with unlimited resources and is perfectly capable of crashing an economy all of a sudden, well we know which rat is starting to stink!

“…The Sandlers knew their business far better than any other person could. Not only were they the founders and major owners, they famously ran the company as a husband and wife team for all these years.

So why did they happen to cash out at precisely the right time? Did they see the handwriting on the wall, realizing the massive risks inherent in the mortgages they originated throughout one of the most overheated real estate markets in the nation’s history? They are not talking, but when smart people cash in some of their chips, it’s rarely a good time to bet against them. Nevertheless, Wachovia bet 24 billion dollars and lost big time.

The collapse was primarily caused by the GDW purchase, which became an albatross around Wachovia’s neck soon after the purchase. “Wachovia found itself in ARM’s Way” was the headline of a recent Wall Street Journal article. A huge percentage of these Wachovia ARMs were made to deep subprime borrowers with very poor credit scores. Most of these were “inherited from its ill-timed acquisition of Golden West” at the end of the housing boom in 2006.

The Sandlers have started to invest their billions of dollars politically, in the manner of George Soros, sugar daddy of many far-left wing groups and an early and prominent supporter of Presidential candidate Barack Obama. Soros has developed an empire of so-called 527 groups, putatively independent political activists groups that have influence within the Democratic Party. These 527 groups include the Center for American Progress, MoveOn.Org, Human Rights Watch, Media Matters and a slew of other like-minded groups ….”

A few weeks ago Soros wrote the following:

“… Hank Paulson, the Treasury secretary, has suggested the use of covered bonds, a mortgage-financing vehicle popular in Europe. I would recommend the system of mortgage credit used in Denmark, where loan-to-value ratios and underwriting standards are strictly enforced by a single, strong regulator. These mortgages are transformed into instantly tradable bonds. Cover for the bonds is provided by both the mortgages and the credit of the financial institutions issuing them. The mortgages remain on the balance sheets of the issuers, eliminating the moral hazard inherent in the US system, which is based on earning fees from selling them on to the market….”

Raymond Pronk has found more connections between George Soros and Barack Obama.

“…Rumors on talk radio are that Soros and his financial currency trader group are planning an October surprise such as either a run on the U.S dollar or bidding up of oil future contract prices. If this happens and they are successful, U.S. gasoline prices would significantly increase above $4 a gallon as the US dollar declines in value and the cost of oil increases. This is turn would throw the economy into a recession or at less increased fear of a recession in 2009.

The theory is this would help Obama….”

We know Barack Obama’s primary financial advisors have direct conections to Fannie Mae.  We also know of campaign  dollars in bundled Wall Street money made it into is pockets.  George Soros helped to host a fundraiser for Obama along with other hedge fund managers at the home of Paul Tudor Jones II.  Obama is in thick with hedge fund managers, who appear to be some of the first donors to his campaign.

“…Mr. Soros, a major supporter of Democratic causes, expressed his support for Mr. Obama to The New York Times’s Floyd Norris in January on the sidelines of the World Economic Forum in Davos. Mr. Jones is a backer of Mr. Obama but has also hedged his bets, donating to the presidential campaigns of Republican Rudolph Giuliani and Democrat Hillary Clinton as well….”

Obama talks a game of change, but he is bought and paid for by Wall Street, yet no one seems to care.

“…The conference room belonged to George Soros, the billionaire bête noire of the right. After talking to Soros for an hour about his prospective bid for the White House, Obama walked down the hall and found assembled a dozen of the city’s heaviest-hitting Democratic fund-raisers: investment banker Hassan Nemazee, Wall Street power Blair Effron, private-equity hotshot Mark Gallogly, hedge-fund manager Orin Kramer. Most had been big-time John Kerry backers in 2004. Most had a connection to the Clintons. All were officially uncommitted for 2008.

Comparatively speaking, Wolf, now the CEO of UBS Americas, was a buck-raking neophyte. But his prodigious recent efforts (first for Kerry, then for House and Senate Democrats in 2006) had established him as a rising star in the fund-raising firmament. Until a few weeks earlier, the presidential horse he’d planned to ride in 2008 was former Virginia governor Mark Warner. But with Warner’s decision to forgo the race, Wolf was up for grabs—and in the sights of every Democrat in the field.

What Wolf, 45, was looking for was a candidate who could change the tenor of our politics. “I’d like my children to soon see a president give a State of the Union address and have both parties applaud,” he tells me. But Wolf was looking, too, for a campaign where his presence would be “impactful,” for a candidate who would take his calls, listen to his ideas. He wanted to feel the love. And while Wolf refuses to speak ill of Clinton, it’s clear he doubted that, no matter how much dough he raised, he’d ever be feeling it from her.

Wolf was wowed by Obama that afternoon: his straightforwardness, his “bold and impressive” early stance against the Iraq war. He handed Obama his card and said, “I’d like to get to know you more.” Obama phoned the next day. “When we hung up, he said, ‘I’ll call you after the holidays,’ and I’m thinking, Yeah, right, he’s gonna call me,” Wolf says. But call Obama did. The next week, they had dinner in Washington, just the two of them, on the night that George W. Bush gave his speech announcing the surge of additional troops into Iraq. “I felt so honored to be sitting down with him for two hours on an occasion like that,” Wolf recalls, “knowing that he was going off to be interviewed on television later.”…”

According to SourceWatch’s Congresspedia (and you thought they only went after conservatives) Barack Obama has interesting connections with Wall Street. It is so nice that Obama is only concentrating on “small donations”.

“…”Obama received more donations from employees of investment banks and hedge funds than from any other sector, with Lehman Brothers, Goldman Sachs and JP Morgan Chase among his biggest sources of support.

“Individual donors included Ken Griffin, the multi-billionaire founder and chief executive of Chicago-based Citadel Investment Group, one of the world’s biggest hedge fund companies,” the UK’s Financial Times reported July 17, 2007.[57]

“Obama’s fundraising was more heavily dominated by financial professionals than other main candidate. He received $160,760 from employees of Lehman Brothers, just over $100,000 each from employees of Goldman Sachs and JP Morgan Chase and $61,125 from Citigroup employees,” the Times reported….”

Obama relied on a series of large-scale fund-raisers with very high rollers.

“…Those at the top of the Obama fund-raising pyramid — people who pledge to raise at least $250,000 — get a gold VIP lapel pin with the letters “NFC” fashioned in the campaign’s logo.

The letters stand for Obama’s National Finance Committee, and the group met in Washington on Wednesday for a retreat at a hotel with the Obama professional fund-raisers, campaign manager David Plouffe and chief strategist David Axelrod, among others. After raising $25 million in the first quarter — creating a national network almost from scratch — their challenge in the second quarter is to show they were not just grabbing the low-hanging fruit.

Details about Obama’s first-quarter fund-raising will be released today, when reports must be filed with the Federal Election Commission. Earlier this month, the Obama campaign released overall figures showing that in the first three months, Obama collected at least $25 million, with $23.5 million available for the primary. He has about 100,000 donors and collected $6.9 million via the Internet.

Obama’s campaign on Friday released some other figures: In addition to the Internet cash, he raised $2.4 million from direct mail and about $1 million from paid telemarketeers.

“Bundlers” are people who solicit their networks for donations and, at the elite giving levels, often get some assistance from campaign fund-raising professionals.

Each of the 138 Obama bundlers promised to raise at least $50,000, and many are from Chicago, not surprising since Chicago billionaire Penny Pritzker is the national finance chairwoman. Among those from the city are major Democratic donors Lou Sussman, who was John Kerry’s chief of fund-raising in 2004; BettyLu Saltzman, one of Obama’s biggest boosters; personal-injury attorney Bob Clifford; Capri Capital CEO Quintin Primo; activists Marilyn Katz and Michael Bauer, Ariel Capital’s John Rogers and Mellody Hobson.

Hollywood moguls David Geffen and Jeffrey Katzenberg; a string of Harvard Law School friends; Broadway producer Margo Lion, and Bill Kennard, managing director of the Carlyle Group, are among the other bundlers….”

If individuals associated with a battered Wall Street firm or two have associations with Barack Obama, and they knew they were going down, is it possibible that they went down in a blaze of glory to help Barack Obama?  I think it is topic worth investigating, not that anyone will do so.  We know Goldman Sachs helped him.  Who else helped create this little monster?  It is obvious someone was trying to sand-bag John McCain.

“…According to an Obama campaign source, the notes were passed to Obama via senior aides traveling with him, who had been emailed the document via a current Goldman Sachs employee and Wall Street fundraiser for the Obama campaign. “It was made clear that the memo was from ‘friends’ and was reliable,” says the campaign source.

The memo allowed Obama and his fellow Democrats to box in Republican attendees and essentially took what President Bush had billed as a negotiating meeting off the rails.

“Paulson and his team have not acted in good faith for this President or the administration for which they serve,” says a House Republican leader who was not present at the White House meeting, but who instead is part of the team hammering out the House GOP alternative…”

We all know the MSM is not doing it job when it financial morons like moi are the ones doing their job for them.