Thursday, May 22, 2008

Sen. Obama Soars with Soros.

According Bloomberg .com, Billionaire Investor Carl Icahn opposes Barack Obama while B. I. George Soros supports him. Here is Icahn's reason, as quoted in the piece: Coupled with the higher tax rates that the Illinois senator has already endorsed, ``you would have a loss of confidence in the dollar,'' leading to accelerating inflation and ``much higher interest rates,'' Icahn said.

In their story they should note that George Soros is a Currency Speculator. After all, he may be shorting the dollar. From Ivestopedia:

George Soros gained international notoriety when, in September of 1992, he risked $10 billion on a single currency speculation when he shorted the British pound. He turned out to be right, and in a single day the trade generated a profit of $1 billion – ultimately, it was reported that his profit on the transaction almost reached $2 billion. As a result, he is famously known as the "the man who broke the Bank of England.


This seems like a real conflict of interest where B.I. Soros is concerned.

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