Friday, June 16, 2006


"Who would have thought Karl Rove's influence included French judges?"

George Soros
Although this story has been covered to overwhelming detail and dull repetativeness in wall-to-wall shows on television and in the newspapers and news magazines, I feel as though I have to touch on it here.
The highest court in France on Wednesday rejected a bid by George Soros, the billionaire investor, to overturn a conviction for insider trading in a case dating back nearly 20 years, leaving the first blemish on his five-decade investing career.
The panel, the Cour de Cassation, upheld the conviction of Soros, 75, an American citizen, for buying and selling Société Générale shares in 1988 after receiving information about a planned corporate raid on the bank.
What's that, you haven't heard this story? The news that George Soros, billionare money markets manipulator and daddy warbucks for such organizations as MoveOn.Org and Air America was found guilty of insider trading in the stock market didn't reach you?

But the legal precedings have been going on for over two decades, the investigation started in 1989 and he was convicted in 2005! Surely you saw the front page news in the New York Times or the special reports on CNN! Surely the tale of corruption and wealth misused at the expense of poorer people overseas was examined in great detail! Surely talk show hosts like Jay Leno and David Letterman made jokes at his expense about insider trading... right?

We all know better, of course. Not a peep from the legacy media about this for years. To be fair, a few smaller organizations like the Kansas City Star (that's what I are) and Cleveland Plain Dealer, as well as Fox News and the US News Wire carried the story, but compared to previous billionaire convictions for this crime, it's been stunningly absent.

Junk Yard Blog is all over this like his namesake:

Of course, now liberals well tell us how this is good insider trading, whereas that practiced by wealthy Republicans is bad insider trading. No jail time, but a hefty fine.

But given that he will now be exclusively referred to in perpetuity as “Insider Trader George Soros” on this and many other blogs, it is the gift that keeps on giving. Thanks, George!

Ace of Spades Headquarters takes up the story: "Yup. The media has Soros Insider Trading Conviction Fever, baby."

Commenters on both sites testified:
You miss the Headlines "Man convicted of Insider trading, uses profits to run attack ads and fund Democratic Party"
-by Paul

-by Air America

Remember the immortal word of Charles DeGaul.
“When France dose something, she does it for the entire World!”
-by Paladin

Who would have thought Karl Rove's influence included French judges?
-by tarheelcon

You guys aren't focusing on the most important sentence of the article- the one that talks about HOW he made his money.

He speculated heavily on the decline of fragile currencies.

In other words, he crushed budding economic systems of small countries.

So, tell me again how Repubs are bad for the little guy?
-by Dogstar

Say, Dogstar, do you think it's possible that his extreme "social action" attitude is a way of trying to assuage guilt for his destructive wealth-building?
-by jhc

hows our extradition policy with France these days? whistling
-by chigger
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