Showing posts with label George Soros. Show all posts
Showing posts with label George Soros. Show all posts

Tuesday, July 19, 2011

Have Stephen Wynn and George Soros Gone Galt?

Seeking Alpha: Wynn Resorts' CEO Discusses Q2 2011 Results:

I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems -- that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration. And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America. You bet. And until we change the tempo and the conversation from Washington, it's not going to change.

Stephen Wynn put words to a problem that many have struggled to articulate. What I find more interesting is that uber-leftist, George Soros, may have confirmed Wynn's remarks. Soros's Quantum Fund may be parking their money for the time being. zero hedge: Soros Goes To 75% Cash As Fed No Longer Telegraphing Trades:

In the absence of the Fed semaphore, it turns out even such "legendary" hedge funds as Soros' $25 billion Quantum are about as clueless as everyone else. Bloomberg reports that "the fund is about 75 percent in cash as it waits for better opportunities, said the people, who asked not to be identified because the firm is private." The reason: "“I find the current situation much more baffling and much less predictable than I did at the time of the height of the financial crisis,” Soros, 80, said in April at a conference at Bretton Woods organized by his Institute for New Economic Thinking. “The markets are inherently unstable. There is no immediate collapse, nor no immediate solution." But, but... what about relative and fundamental value, pair, cap and M&A arb? What about long-term investment opportunities in the growth of the world? What about arbing the so-called business cycle? Are none of those strategies worthy of investment? Or has ubiquitous central planning made the only profitable trade simply frontrunning the Fed's beta wave with as much leverage as possible? What's that you say? Yes? Thank you, the defense of formerly fair and efficient markets rests.

So without clear market signals from the Federal Reserve to know which cronies will be capitalized, Soros seems to be stuffing mattresses with wads of cash. You know the world's got problems when the preeminent financier of central planning seems to have gone Galt.

Saturday, November 6, 2010

Ed Martin Update

While Russ Carnahan (D-MO) has claimed victory in Missouri's Third Congressional District, Ed Martin (R) has yet to concede. The News Tribune reported Thursday: "Republican Ed Martin is demanding an investigation of possible voter fraud after narrowly losing the election for Missouri’s 3rd Congressional District to Democratic incumbent Rep. Russ Carnahan."

At the close of Tuesday evening's election tally, Russ Carnahan was leading his three conservative opponents with almost 49% of the vote (99,016). Ed split the 51% of the voters that sought to return sanity to DC with the Constitution Party's Nick Ivanovich and Libertarian Steven Hedrick. Ed was a close second to Russ having garnered the support of nearly 47% of voters. Still, he trailed Russ by almost 4,500 votes.

That's a lot of votes to make up and Ed acknowledged that Friday morning on Jamie Allman's radio show on 97.1. You can listen to Ed's remarks from the third hour of Jamie's show. Ed comes on at about 3:45 and speaks for about five minutes:



(If the MP3 player above doesn't work, try this direct link.)

Ed's in a difficult position. Obviously, he doesn't want to be the next Al Gore, but as someone who worked to end voter fraud in St. Louis city, Ed feels an obligation to ensure a clean election. He's made three claims about Tuesday's election, but before we get into those claims, it is important to note that Russ Carnahan's sister, Robin Carnahan, is Missouri's Secretary of State. As such, she's ultimately responsible for election oversight and obviously has a conflict of interest in this instance.

Ed's first claim is that the seven-hour outage of the Secretary of State's voter verification system may have allowed ineligible voters to cast ballots. This allegation is supported by statements Jen Ennenbach of the St. Louis Tea Party Coalition made to the Daily Caller:
“We are also calling for an investigation into the Secretary of State’s office because we had an election judge come into the St. Louis Tea Party headquarters just to vent his frustration and let us know what was going on,” Ennenbach told TheDC.

Ennenbach said the election judge, who she wouldn’t name, came to her after having witnessed busloads of mentally handicapped service workers, who are ineligible to vote per their medical condition, cast ballots during the timeframe when the verification system was down.

“The judges could not strike the vote because the verification system was down,” she said.
And there's no dispute about the verification system being down. Missouri.WatchDog.org reported:
A piece of computer hardware failed on Election Day, preventing poll workers across Missouri from being able to access the central electronic database designed to verify voter registration information for part of the day.

One of the load balancers — a piece of computer hardware that manages Internet traffic by determining how requests are sent to servers — is to blame for the problems with the system, said Laura Egerdal, spokesperson for the Missouri Secretary of State.
That's an odd thing to have happen.

Ed's second claim is that it was inappropriate for recently appointed St. Louis City Board of Elections Democratic Chairwoman, Eileen McCann, to hire a security company with close ties to Congressman Carnahan. The only way that I see this as a problem is if they security company was hired to transport ballots. In the audio from Jamie Allman's show above, Ed mentions some politics within the Board of Elections that may be relevant.

Ed's third claim is that a late at night dump from seven city precincts delivered an astounding number of votes for Russ Carnahan; however, Ed has since backed off of this claim. Daily Caller article mentioned earlier also has this:
On Wednesday, Martin’s team originally said a last-minute surge of Democratic votes from seven precincts looked suspicious, especially after he was leading most of the night. Now, though, after further investigation, his team discovered that the Democratic surge was from more than just the seven precincts – and he said that surge looks reasonable.
With that acknowledgement, it's hard for me to see how Ed can claim victory. Nonetheless, voters who have been disenfranchised or whose votes have been diminished by fraudulently cast ballots need someone to stand up for them. That person has to be Ed because the voters lack standing in court.

In addition to those three, other claims have emerged including Ennenbach's claim above that a St. Louis election judge witnessed fraud. On Wednesday, 24thState.com revealed some details about ineligible voters casting ballots in Missouri:
That said, we did identify 31 cases of registered voters who were possibly ineligible. And we know 8 that voted, at least one of which was not eligible to vote and should be taken from the rolls. That was based on just two locations. Because we had no villain, we held off reporting the information until after the election, as our plan was to work with cooperative election authorities rather than making a scandal out of what was really a systemic problem.
Perhaps the most frustrating thing about this is the indifference shown by Missouri's Secretary of State. As 24thState reported this past Thursday:
Robin Carnahan has stated in federal court that it is not her responsibility to clean the voter rolls, despite the violence done to honest elections during the time Missouri ACORN was active. Well, if Robin won't do it, then the people will do what government can't or won't do.
Conservatives obviously see this as a dereliction of duty on Robin Carnahan's part. I guess Robin could make the argument that she's saving tax payers money by outsourcing her job. It turns out that a MissouriWatchdog.org report has linked the deceased in Kansas and Missouri to active voter lists; however, Robin still hasn't scrubbed the voter roles.

That's not surprising when you consider Mindy Mazur, Robin Carnahan's campaign manager and former chief of staff. Between those two stints working for Robin Carnahan, Mazur worked for the progressive America Votes where she advocated for, among other things: election day registration, allowing 16 or 17 year olds to pre-register, removing proof of citizenship requirements, removing registration barriers for felons, etc. According to Wikipedia, America Votes has offices in twelve states and the District of Columbia, including Missouri. If you're conspiratorial, you wont be surprised to learn that Robin Carnahan was backed by George Soros's Secretary of State Project in her 2008 campaign. Maybe George was looking for some early dividends on this investment in the form of a Russ Carnahan win.

Perhaps Ed Martin's complaints about voter fraud will amount to nothing. That would be the best outcome. Due to our legal structure he's the only person with standing to bring these complaints and hopefully force greater scrutiny. To those that would nay-say his challenge, I would respectfully point out that eternal vigilance is the price of liberty.

Thursday, November 4, 2010

George Soros: 2010 Midterm Loser

The Washington Examiner observes: You know who was a big loser in this election? George Soros:
The first notable thing is Soros’ funding of the Secretary of State Project — which is basically an attempt to elect Secretaries of State around the country willing to impose Democratic-friendly election laws in an attempt to tilt the playing field in their favor on election day.

Well, yesterday Republicans won 17 of 26 races for Secretary of State taking six of those offices (Arkansas, Ohio, New Mexico, Colorado, Iowa and Kansas) from Democrats. Republicans now control 25 offices to Democrats 22.
The damage is worse than that, because that analysis does not account for the torpedo that struck the SS Robin Carnahan in Tuesday's election. Robin was not on the ballot in a Secretary of State race, but rather was the Democrat vanquished by the Roy Blunt (R-MO) Juggernaut in Missouri's US Senate race. Nonetheless, as Missouri's Secretary of State, her future viability as a candidate has to be questioned because of the extent of her loss. Between her elections in 2008 as Missouri's Secretary of State and her 2010 Senatorial bid, Robin Carnahan lost a million voters.
( CU9BC862TDWZ )

Monday, October 11, 2010

George Soros Acknowledges Impotence

Soros has told the New York Times he can't stop a Republican "Avalanche":
Mr. Soros, a champion of liberal causes, has been directing his money to groups that work on health care and the environment, rather than electoral politics. Asked if the prospect of Republican control of one or both houses of Congress concerned him, he said: “It does, because I think they are pushing the wrong policies, but I’m not in a position to stop it. I don’t believe in standing in the way of an avalanche.”
Don't get cocky. Get out there!

Wednesday, March 3, 2010

FOIA, Green Jobs, and Climategate

Readers of this blog know that I expect the Climategate scandal to damage the re-election campaigns of anyone that's put too much political stock in environmental issues. Russ Carnahan (D-MO) has significant support from the green jobs lobby and he put $90 million tax dollars into his brother's windfarm. Now comes news that George Soros and other Washington lobbyists will try to paper over problems with wind energy: "After two studies refuted President Barack Obama’s assertions regarding the success of Spain’s and Denmark’s wind energy programs, a Freedom of Information Act (FOIA) request reveals the Department of Energy turned to George Soros and to wind industry lobbyists to attack the studies."

The FOIA generated sunlight has only just begun to illuminate green job corruption. I'm sure someone has already compiled a list of email addresses from Climategate, looked for addresses ending in .gov, and formulated a few FOIA requests of their own. The results, if any, of those requests will continue to break over the coming months.

Bob Corker Sellout

BigGovernment reported The Bob Corker (R-TN) Bailout Sellout [emphasis added]:
Sen. Bob Corker (R-TN) has snatched defeat from the jaws of victory with his complete capitulation and total surrender on the Financial Services bill. The bill, passed by the House with a $4 trillion bailout provision, making bailouts the permanent policy of the United States government, was on it’s last legs until Corker came to the rescue. Now the Washington Post and other are reporting that Corker and ethically-challenged, retiring Sen. Chris Dodd (D-CT) are on the verge of a deal to breathe life back into the regulatory and bailout scheme.
It looks like some Republicans still haven't learned that "too big to fail" is exactly two words too long. We need to build a country where every business is a small business, where the creative destruction of the market place is a tolerable difficulty that spawns new innovation, and where the politically powerful can no longer aggregate the public's money in the coffers of their future campaign contributors.

Update: Now ABC is reporting that George Soros is endorsing a new "consumer" protection agency:
"We need a consumer protection agency, and we need it very urgently because there is political outcry about the injustice of the current situation," [George] Soros said at a Roosevelt Institute conference in New York.

Senate Banking Committee Christopher Dodd has been trying to bridge a gap with Republicans, who oppose an independent consumer protection agency, and discussed with Republican Senator Bob Corker the possibility of making the agency a division of the Federal Reserve.
"The bureaucracy is expanding to support the expanding bureaucracy," as someone once said. Let's review the agencies charged with oversight of our financial institutions:
  1. Congress (House and Senate)
  2. US Treasury
  3. Federal Deposit Insurance Corporation (FDIC)
  4. Federal Reserve ("The Fed")
  5. Office of the Comptroller of the Currency (OCC)
  6. Security and Exchange Commission (SEC)
  7. Bureau of the Public Debt (I bet they're busy these days!)
  8. Community Development Financial Institution Fund (CDFI)
  9. Financial Crimes Enforcement Network (FinCEN)
  10. Federal Inspectors General
  11. Office of Thrift Supervision (OTS)
  12. National Credit Union Administration (NCUA)
  13. Housing and Urban Development (HUD)
  14. Office of Fair Housing and Equal Opportunity (FHEO)
  15. Federal Housing Administration (FHA)
  16. Fannie Mae
  17. Freddie Mac
  18. Ginnie Mae
These bureaucracies exist to absorb blame from the political class—#1 on the list above. A "consumer protection agency" would be no different. To better understand this general problem, read the Practical Rule of Bureaucracies.