Soros to End Hedge-Fund Career, Return Money to Clients

Soros to End Hedge-Fund Career, Return Money to Clients

Soros’s sons said they took the decision because new financial regulations would have made it necessary for the firm to register with the Securities and Exchange Commission by March 2012 if it continued to manage money for outsiders. Because the firm has overseen mostly family assets since 2000, when outside money accounted for about $4 billion, they decided it made more sense to run it as a family office, according to the letter. The rule calls for hedge funds with more than $150 million in assets to report information about their investors and employees, the assets they manage, potential conflicts of interest and their activities outside of fund advising.

What more is there to say really, the article speaks for itself. Apparently it will be harder to take over the world if you have to tell everyone who you're in bed with.

Another rat jumping the ship. He's helped light the fuse on a heap of dynamite, and is going back to his rats nest to watch the fireworks.

HE NEVER COULD TRADE. HE MADE ALL OF HIS FORTUNE CHEATING AND BY INSIDER INFO. NOW THAT THE BANKING REGULATIONS ARE CLOSING IN, HE ALONG WITH OTHER WALL STREET CRIMINALS WILL NO LONGER BE ABLE TO MAKE MONEY CHEATING THE SYSTEM.

reply to post by lernmore


Well Said, ooops can't run the show anymore soros.

On another note, the groom lake pics with those spheres. I have seen those spheres in the Las Vegas night sky on 2 occasions, what the hell are they? Ufos?

Originally posted by matthewgraybeal
On another note, the groom lake pics with those spheres. I have seen those spheres in the Las Vegas night sky on 2 occasions, what the hell are they? Ufos?

OT: Those would either be the last thing Bernie Madoff saw last night or the objects in the infamous "STS-75 Tether Incident" video... Could be both.

Quite interesting when you consider that Soros is poised to cash in on HR 1380 "The Natural Gas Act" He is certainly lining all of his ducks in a row and now he will be able to do it even more on the sly.

I posted this thread the other day on the supposition that Soros just may know something big is about to come his way from Congress and Obama. Everyone from individual States to Exxon are pushing the benefits of fracking for Natural Gas these days

www.abovetopsecret.com...

if this guy is jumping you know TSHTF is soon.

"Soros, who turns 81 next month, will hand back the money, less than $1 billion, by the end of the year, according to two people briefed on the matter. "

I think that is a very telling statement.

Soros isn't the only one sidestepping the regulations either.. Pretty much "in your face" avoidance after talking like he supported such moves.

Senator Shelby says Soros hypocrite for reforms dodge

A couple snippets from the article...

(Reuters) - Prominent Republican Senator Richard Shelby accused billionaire investor George Soros of hypocrisy on Wednesday for evading new hedge fund regulations he once publicly backed.

"It appears that Mr. Soros talked up financial reform only to sell it short," Shelby told Reuters in a statement. "Don't be surprised to see his fellow Wall Street financiers follow suit. They'll use their political clout and legal muscle to sidestep Dodd-Frank, while their smaller competitors and businesses take the hit."

Soros joins a growing list of fund managers who have recently revamped their businesses in the face of fresh regulation. Stanley Druckenmiller, Soros' long-time deputy who helped engineer the firm's winning bet against the British pound in 1992, returned money as did Chris Shumway, who was mentored by another industry great, Julian Robertson. Earlier this year, Carl Icahn did the same.