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A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.
Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market, or if the bet happened at all.
There were mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved.
The link has been made to Mr Soros in part because he has been tied to President Obama’s administration since 2008, reported The Examiner.
He also recently stopped managing money for outside investors, meaning he is under less scrutiny from the Securities and Exchange Commision
But the mystery bet could easily have been made by another trader with similar resources, despite Mr Soros’s links with the Obama administration.
The bet also raises questions of whether President Obama and Treasury Secretary Timothy Geithner knew that a downgrade was on the cards.
Mr Geithner said in April there was ‘no risk’ of a downgrade - but the government now appears annoyed, not surprised, by last week’s decision.
Originally posted by Asktheanimals
Since it was Standards and Poor who changed the rating it had to have been someone with very deep ties with them. They probably made an insider deal with the management of S&P receiving a kickback of some sort. I don't know who has those kinds of connections.
Bottom line is who is paying out the $10 B?
Originally posted by Sphota
Here's the real question: Why is such action anonymous? This is something I don't get.
ATS is a "conspiracy" forum. The definition of conspiracy is joining with others in a secret action that benefits the conspirators and leaves others in the dark of a seemingly random, scape-goated or otherwise anonymous action.
Fox News is saying it's Soros, so I'm willing to bet it is not. But in the end I don't care who this individual is. I'm more worried about a supposedly free society that rejects evidence such as this that the game is rigged.
Focusing on finding and hating the "player" distracts from the real focus: hating the "game". Next time BP or Exxon spills, why should I waste my energy finger-wagging their show of greed when it is continuously promoted by the system that stays in place once the media frenzy of the incident dies down. Same with product recalls, spinach contamination and collateral damage. It's an exercise in futility.
EDIT: In the interest of the thread, might I suggest that Corporations are "people" too. Why would we assume that only one living person is involved in turning 850 million into several billions?edit on 9-8-2011 by Sphota because: (no reason given)