Why George Soros should be regulated, even now

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    Jul 28, 2011 3:08 AM GMT
    Filed under the heading be careful what you wish for...

    http://finance.fortune.cnn.com/2011/07/27/why-george-soros-should-be-regulated-even-now/

    George Soros is a victim of Dodd-Frank? Please. Instead of scaling back the rules, let's expand them -- and regulate his $25 billion family office.

    Poor George Soros. Regulations have forced the swashbuckling hedge fund manager to return money to investors, shutter his hedge fund, and turn his fearsome investment operation into a mere "family office." What's the guy going to do for fun anymore?

    Yesterday, Soros' sons Robert and Jonathan sent a letter to outside investors in Soros Fund Management's Quantum Group of Funds, citing the "unfortunate consequence of…new circumstances" as the reason behind the decision. The new circumstance, of course, is the Dodd-Frank Act, which would have required SFM to register with the SEC by March 2012. Despite the family's massive wealth—Soros and kin are worth a reported $25 billion—this proved too burdensome a prospect, so they're kicking out long-time investors in order to remain exempt from the new regulations.
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    Jul 28, 2011 3:58 AM GMT
    Or, it could be that he's 81, a billionaire many times over and can't be arsed to deal with the new regulations when he doesn't need the money. icon_rolleyes.gif
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    Jul 28, 2011 1:32 PM GMT
    Christian73 saidOr, it could be that he's 81, a billionaire many times over and can't be arsed to deal with the new regulations when he doesn't need the money. icon_rolleyes.gif


    Ah - is this an admission that regulations and even taxes impact whether or not business people make decisions to expand?
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    Jul 28, 2011 2:11 PM GMT
    riddler78 said
    Christian73 saidOr, it could be that he's 81, a billionaire many times over and can't be arsed to deal with the new regulations when he doesn't need the money. icon_rolleyes.gif


    Ah - is this an admission that regulations and even taxes impact whether or not business people make decisions to expand?


    Of course, they play a role but not - by far - the largest role, which has been and always will be, demand.

    That said, it's not clear at all that this is Soros' motivation, who - again - is an octogenarian and neither he, his children, nor his grandchildren will ever have to work another day in the lives. Perhaps Soros wants to semi-retire, manage his family investments with his children, and spend his energy on philanthropy. People with his kind of wealth do it all that time.
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    Jul 28, 2011 2:13 PM GMT
    Christian73 said
    riddler78 said
    Christian73 saidOr, it could be that he's 81, a billionaire many times over and can't be arsed to deal with the new regulations when he doesn't need the money. icon_rolleyes.gif


    Ah - is this an admission that regulations and even taxes impact whether or not business people make decisions to expand?


    Of course, they play a role but not - by far - the largest role, which has been and always will be, demand.

    That said, it's not clear at all that this is Soros' motivation, who - again - is an octogenarian and neither he, his children, nor his grandchildren will ever have to work another day in the lives. Perhaps Soros wants to semi-retire, manage his family investments with his children, and spend his energy on philanthropy. People with his kind of wealth do it all that time.


    So long as you acknowledge that even the rich can go on strike and choose to stop being productive.
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    Jul 28, 2011 3:39 PM GMT
    southbeach1500 said
    Christian73 saidOr, it could be that he's 81, a billionaire many times over and can't be arsed to deal with the new regulations when he doesn't need the money. icon_rolleyes.gif



    Hahahahaha.... that's a good one.

    As if he is the person in the organization that actually handles compliance. Only a naive (a.k.a. liberal) could so totally have no clue as to how private sector companies work.


    Where did I state that Soros was responsible for compliance? Obviously, he has a slew of lawyers, accountants and financial advisors who do that for him. icon_rolleyes.gif