[Nesster]

Some of the right wants to give it to Wall street.

see my Cantor quote somewhere here yesterdy where he defines the hedge fund manager tax break as a 'mom and pop' small business issue. Only if your real or political mom and pop run a hedge fund, I suppose...

[mikemike]

see my Cantor quote somewhere here yesterdy where he defines the hedge fund manager tax break as a 'mom and pop' small business issue. Only if your real or political mom and pop run a hedge fund, I suppose...

I guess you could say hes a political sugar daddy. The poor guy throws in the towel instead of complying with the new Dodd-Frank regulations. I wonder how many compliance people and staff quantum let go so that he could keeps his secrets. Now do you see how regulations kill jobs?

[Nesster]

I guess you could say hes a political sugar daddy. The poor guy throws in the towel instead of complying with the new Dodd-Frank regulations. I wonder how many compliance people and staff quantum let go so that he could keeps his secrets. Now do you see how regulations kill jobs?

LOL! I doubt that was the primary reason for Soros to call it quits... and I doubt his quants are going to wait long for another job, down the street.

On the other hand, the lack of regulations that permitted the recent financial collapse did cost many many more jobs than quantum closing down... and if you believe that the unemployment figures aren't mere liberal propaganda, these unemployed aren't exactly having an easy time finding new work.

Simplistic to say regulations kill jobs, just as it is simplistic to say regulations solve all problems.

[jeffkrol]

I guess you could say hes a political sugar daddy. The poor guy throws in the towel instead of complying with the new Dodd-Frank regulations. I wonder how many compliance people and staff quantum let go so that he could keeps his secrets. Now do you see how regulations kill jobs?

ONE...........................

The octogenarian fund manager, known as much for earning $1 billion on a nervy currency bet as for giving away millions to support liberal causes, will return roughly $1 billion to outside investors most likely by the end of the year and turn Soros Fund Management into a family office. The sum represents only a small portion of the $25 billion he oversees.

Keith Anderson, who has been Soros’ chief investment officer since 2008, will leave the firm.

In many ways it’s not truly a retirement. Giving back the $1 billion (less than 5% of the total) will allow Soros to manage his funds without SEC headaches or scrutiny from regulators. This continues a trend of top dog managers with multi-billion-dollar fortunes retreating from the spotlight.

Exit Soros: Farewell to the Palindrome
and I wouldn't be too worried about him..........

Fun site:
http://www.businessinsider.com/live-coverage-debt-ceiling-negotiations-2011-7

---

Last edited by jeffkrol; 07-27-2011 at 03:09 PM.

[shooz]

Glenn Beck worries about him for all of us.........

[mikemike]

Glenn Beck worries about him for all of us.........

Someone had to bring it up here. We know that liberal oligarchs like Soros get a free pass while 3 threads will fire up if one of the Koch brothers tips less than 15%.

LOL! I doubt that was the primary reason for Soros to call it quits... and I doubt his quants are going to wait long for another job, down the street.

I was wondering what his angle was, I guess it was to use the government to force all of the other hedgehogs to show their cards while he gets to keep his hand private.

Its good to here that the jobs crisis is over and there are plenty of jobs available. Maybe they should hire unemployed autoworkers instead.

[shooz]

I knew you were a Glenn Beck fan!!!!!!!!!......

1 allegedly liberal oligarch, compared to how many more on the other side?
How rich did you the Rothschilds were?
How about total wealth of the Waltons?

[shooz]

Its good to here that the jobs crisis is over

Where did you here(sic) that?
You're just makin' stuff up now.

[deadwolfbones]

Way to go, Joe.

Freshman U.S. Rep. Joe Walsh, a tax-bashing Tea Party champion who sharply lectures President Barack Obama and other Democrats on fiscal responsibility, owes more than $100,000 in child support to his ex-wife and three children, according to documents his ex-wife filed in their divorce case in December.

Before getting elected, he had told Laura Walsh that because he was out of work or between jobs, he could not make child support payments. So she was surprised to read in his congressional campaign disclosures that he was earning enough money to loan his campaign $35,000.

“Joe personally loaned his campaign $35,000, which, given that he failed to make any child support payments to Laura because he ‘had no money’ is surprising,” Laura Walsh’s attorneys wrote in a motion filed in December seeking $117,437 in back child support and interest. “Joe has paid himself back at least $14,200 for the loans he gave himself.”

Rep. Joe Walsh to CNN on owing 100K in child support: "This is where most Americans are coming from"

[shooz]

Do you think he can even admit that it was Reagan that ushered in most of our current divorce laws?
I doubt it.

[GeneV]

I also find Michelle Bachman's history interesting. As near as I can tell from her Wiki entry, she has never had a job where the paycheck didn't say "U.S. Treasury" on the top. 5 years as an IRS lawyer, then a stay-home mom, and finally a Congress critter.

Her husband's family farm gets hundreds of thousands in subsidies, and he gets government money for his Christian counseling.

[jeffkrol]

I also find Michelle Bachman's history interesting. As near as I can tell from her Wiki entry, she has never had a job where the paycheck didn't say "U.S. Treasury" on the top. 5 years as an IRS lawyer, then a stay-home mom, and finally a Congress critter.

Her husband's family farm gets hundreds of thousands in subsidies, and he gets government money for his Christian counseling.

I had a list of her gov. "handouts" including payments for her foster children.. but this is a big part of it..........

Weeks before Rep. Michele Bachmann pushed for the elimination of government-backed loan programs, she and her husband, Marcus, signed documents to finance a $417,000 home loan, which experts told the Washington Post was backed by the very programs Bachmann had aimed to destroy.

Bachmann, along with several other members of Congress, blamed Fannie Mae and Freddie Mac for the 2008 financial meltdown. Due to their government-backing, the programs can offer lower interest rates, but those opposed have argued that the programs come at too high a cost to taxpayers.

From reporter Kimberly Kindy of The Washington Post:

… Bachmann has been the most outspoken critic of the loan programs and other government subsidies among Republican presidential candidates. Former Minnesota governor Tim Pawlenty also has called for dismantling Fannie Mae and Freddie Mac. Experts who reviewed his mortgage documents said that there was no way to tell whether his home loan from 1994 had government backing.

Bachmann’s mortgage was part of a package of debt that she and her husband, Marcus, assumed to buy their home, public records show. They also have other loans, including a home equity line of credit, a business mortgage and another business loan for their Christian counseling clinics, bringing their liabilities to more than $1 million, according to the most recently available public records. …

The situation is politically significant not only because Bachmann took advantage of a program she opposed, but because she has remained a staunch critic of government debt, often reminding voters at her campaign stops that the government should function like families do and not spend more that it has.

In addition to the home loans, the Bachmanns have also come under scrutiny for government subsidies they’ve collected in connection to a family farm and their counseling clinic, Bachmann & Associates.

According to experts who worked with The Post, “the Bachmanns bought a more expensive home using typical strategies during a time of easier credit.” The Post also reports that their new home, located on a golf course, was previously owned by former NFL player Ross Verba, who was facing foreclosure.

In August 2008, when the Bachmanns purchased the home, the situation of foreclosure was not a unique one for residents of her District. According to earlier reporting by the Minnesota Independent, Bachmann’s 6th Congressional District had the highest foreclosure rates in the state.

… Just to the north of the Twin Cities, the 6th district, represented by Republican Rep. Michele Bachmann, had the most foreclosures of any of Minnesota’s eight congressional districts, with an estimated 5,227 in 2008. Her district also had the highest rate of foreclosures as a percentage of households, at 1.80 percent, nearly that of the city of Minneapolis at 1.85 percent.

The situation was similar in 2007, when, according to a Housing Link study, Bachmann’s district had a higher foreclosure rate than the rest of Minnesota and the rest of the country.

But Bachmann’s record in Congress is not one of a representative whose district faces such a crisis. Bachmann hasn’t authored or sponsored any legislation to assist homeowners facing foreclosure, but she has co-sponsored 14 bills to restrict abortions and five to promote Christianity in government.

Bachmann voted against five key foreclosure relief bills, including the Mortgage Reform and Anti-Predatory Lending Act, which would set standards for mortgages and reduce predatory lending, and the Neighborhood Stabilization Act, which would provide funds for buying and rehabilitating foreclosed properties in affected neighborhoods. She also opposed the Expanding American Homeownership Act, which allows more people to qualify for FHA-backed mortgages, and the Expand and Preserve Home Ownership Through Counseling Act, which aims to improve financial literacy. Bachmann additionally voted against the Housing and Economic Recovery Act of 2008, a law signed by President Bush that contained many provisions to assist struggling homeowners and also the only one of the bills to become law.

Before the first four of these measures reached the House floor, Bachmann opposed them in the House Financial Services Committee. She also voted against the FHA Housing Stabilization and Homeownership Rentention Act of 2008, which did not receive a floor vote. The bill would have provided mortgage refinancing assistance to struggling families and expanded FHA loan programs.

Bachmann further offered an amendment to block increased funding for HOPE for Homeowners, a Department of Housing and Urban Development program that helps families facing foreclosure to refinance their mortgages.

When Congress was debating strategies to assist families facing foreclosure, Bachmann called those homeowners “irresponsible.”

“Now, we can debate whether this is the right thing to do as it may seem that you’re rewarding the irresponsible while punishing those who have been playing by the rules,” she said in Febraury. “When President Obama released his plan … to prevent home foreclosures, the point he wanted to get across to everyone watching was that money from folks who have been making their payments on time will not just be handed over to those folks who got in over their heads and bought a house they knew they couldn’t afford.”

Those homes that residents of the 6th district couldn’t afford had a median value of $239,000, according to the 2007 American Community Survey, just above the national median of $229,000. Prices have likely declined considerably since the 2007 survey. …

The Bachmanns borrowed the full amount possible at the time from Fannie Mae and Freddie Mac, according to The Post. The home was originally listed in 2007 with a price tag of $1.75 million.

Bachmann used government loan program weeks before pushing to eliminate it | Minnesota Independent: News. Politics. Media.