The Dodd “Financial Reform” Bill Lets Soros Off the Hook
Soros and his collaborators have an anti-capitalism agenda, an anti-industrialized nation agenda, and a far-left liberal, Marxist radical agenda. Most hedge fund short sellers are not capitalist. They are anti-capitalist and they are not investors. They are anti-investors. They succeed when companies (or countries) fail.
AIM Column | By Zubi Diamond
The Chris Dodd financial reform bill is totally unnecessary, unwarranted and will be harmful to the Republic. The “too big to fail” concept is not the reason for the economic crisis. The problem is not Wall Street as a whole, but the hedge fund short sellers on Wall Street. They call themselves the “alternative investment community” and have organized themselves into a special interest group called the Managed Funds Association (MFA).
In order to understand where Dodd went wrong, the public must learn to differentiate between what I call the “good” Wall Street and the “bad” Wall Street, and what roles they play in our economy.
An example of the good Wall Street would be someone like Warren Buffet, Steve Jobs or Sandy Weill, and many more. These people create, run or finance money-making companies and serve the community with much-needed jobs and employment, products and services. The good Wall Street includes the general public mutual funds, retirement portfolios, common investors, banks and venture capital investors who finance and fund the loans for our homes and businesses. They fund and finance economic growth and expansion.
An example of the bad Wall Street would be someone like George Soros. These people are the financial hedge fund short-selling operators who make money by betting on company collapse, economic calamities and catastrophes.
Soros and his collaborators have an anti-capitalism agenda, an anti-industrialized nation agenda, and a far-left liberal, Marxist radical agenda. Most hedge fund short sellers are not capitalist. They are anti-capitalist and they are not investors. They are anti-investors. They succeed when companies (or countries) fail.
For the good Wall Street to make money, prices have to go up. In this way, everybody makes money, the companies and their shareholders make money, jobs are safe and secure, the economy grows, and the economy expands. This is capitalism in action. The action of the good Wall Street grows and expands the economy.
For the bad Wall Street to make money, prices have to go down, which means that companies and their investors have to lose money or even go broke and collapse.
The bad Wall Street is the hedge fund short sellers. They destroy companies, take away liquidity, destroy investor capital and slow down the economy.
The bad Wall Street, in the form of the hedge fund short sellers, engineered the economic collapse, looted every portfolio that had exposure to the stock market, and blamed George Bush and the Republicans, enabling Barack Obama and his backers, including Soros, to take power.
The hedge fund short sellers, who are members of the Managed Funds Association, are running our government today. They are the ones who authored the Dodd bill. The Dodd bill is punishing the victims of the Hedge Fund short sellers. The Dodd bill is punishing the good Wall Street.
Unless the truth about the role of the MFA in our government policies and regulations is revealed, and some courageous lawmakers free our economic system from their grip, the United States is in for a long time of hurt and possible bankruptcy.
George Soros is the leading member of the MFA. He is also the most influential and the most politically active member. He was behind Barack Obama’s election as President, he led the Managed Funds Association engineering of the economic collapse, as I covered in my book Wizards of Wall Street.
The Dodd bill does not mention anything about regulating the hedge fund short sellers. The Dodd financial reform bill punishes the victims and rewards the looting bandits and basically sets up the publicly traded companies, the shareholders and the American families to be victimized again. The Dodd bill doesn’t offer any protection for the invested capital and assets of the shareholders, but instead allows their wealth to be seized and confiscated by the Treasury Secretary and distributed to MFA members, the hedge fund short sellers.
This Dodd “financial reform” bill is just round two of the scam to defraud the publicly traded companies and their shareholders, all over again.
This Dodd bill represents the biggest effort so far by the hedge fund short sellers to have the government seal of approval, to cover their role in engineering the economic collapse which has ravaged the American economy
As I document in my book, The Wizards of Wall Street, the problem, in essence, is that safeguard regulations which had been in place since 1938 to prevent a repeat of the stock market crash were repealed.
The measures I recommend address the root cause of the economic crisis. They are absolutely necessary to protect investors, the invested capital and the publicly traded companies who are at the heart of American capitalism. They are based on my own experiences in the financial markets and my historical analysis of what has worked in the past to prevent economic and financial catastrophes. They have worked and served us well for 72 years, until then-Securities and Exchange Commission (SEC) chairman Christopher Cox removed them due to the lobbying influence of the Managed Funds Association, the hedge fund short sellers.
Some say the answer is some kind of financial transactions tax, perhaps on a global basis. But I say no. That will only hurt the common investors, retirement portfolios, ordinary Americans with investments in Mutual Funds and IRAs and their pensions and savings. The transaction tax is too exorbitant and is designed to further punish the victims of the crisis, the common investors, and the American families, and traps them for looting down the road. The financial transaction tax is designed as a major source of income redistribution for the Obama administration. This is not good for capitalism.
The socialists believe that to effectively control the people, you have to take away their money and control their wealth. This Dodd financial reform bill is filled with land mines and traps that will do just that.
All freedom lovers, all capitalists, and all patriotic Americans must say no to the Dodd bill. It does not address the cause of the financial crisis.
The Dodd bill will suppress business freedom and economic growth. It will work against the interests of Americans and their liberty.
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