Obama’s Exclusive George Soros Waivers

by  Michelle Malkin

07/29/2011

“Millionaires and billionaires,” President Obama says derisively, must make more “sacrifices” and live by the same rules the rest of America lives by. But there are seven little words that will never appear on the White House teleprompter: “And that means you, too, George Soros.”
   
For all his (and his wife’s) bashing of greedy Wall Street hedge-fund managers, Obama has shown nothing but love to the world’s most famous hedge-fund mogul. The feeling is mutual and deep(-pocketed).
   
Soros and his family shelled out $250,000 for Obama’s inauguration, $60,000 in direct campaign contributions and untold millions more to liberal activist groups pushing the White House agenda. While the class warrior-in-chief assails conniving financiers who exploit loopholes and corporate titans who imperil the planet, he lets the Soros exemptions to his attack-the-rich rules slide like butter on a hot plate.
   
This week, for example, Soros announced he was “quitting” the hedge-fund industry. The headlines emphasized his decision to return about $750 million to outside investors (a drop in his $30 billion bucket of personal wealth). He’s reconstituting the business that landed him on Forbes magazine’s “wealthiest people” list as a “family” interest. But the move has “self-serving politics” written all over it.
   
Over the past year, Soros provided coveted support for Obama and the Democrats’ Byzantine financial “reforms” under the sweeping Dodd-Frank law. He preached to financial publications around the world about the need for increased regulatory controls over his industry. And in November 2008, while paying obligatory lip service to concerns about going too far, he submitted a statement to the House Committee on Oversight and Government Reform that recommended: “The entire regulatory framework needs to be reconsidered, and hedge funds need to be regulated within that framework.”
   
Frameworks for thee, but not for he, however.
   
Under Title IV of Dodd-Frank, hedge funds were required to abide by new registration and reporting requirements in an attempt to better police systemic risk (not that the feckless Securities and Exchange Commission has ever been able to fulfill that mission). To evade the regulations, Soros and other firms have used a recently passed rule allowing so-called family offices to shield themselves from both registration and disclosure rules that would have subjected Soros Inc. to a new “Financial Stability Oversight Council.”
   
Somehow, in touting its one-year anniversary last week, there was nary a peep about the myriad loopholes and de facto waivers being granted to Obama’s powerful benefactors whose names start with “S” and end in “-oros.”
   
GOP Sen. Richard Shelby of Alabama called Soros’ hypocrisy out, telling Reuters this week: “It appears that Mr. Soros talked up financial reform only to sell it short. Don’t be surprised to see his fellow Wall Street financiers follow suit.”
   
This comes on top of the Obama administration’s $2 billion offering in 2009 to Brazilian state-owned offshore oil-drilling company Petrobras — in which Soros and his management company own an $811 million stake.
   
Offshore drilling for they, but not for the rest of the USA . Membership in the self-exempting progressive billionaires’ club has its privileges.

Mrs. Malkin is author of  Unhinged (Regnery) and “Culture of Corruption: Obama and his Team of Tax Cheats, Crooks & Cronies” (Regnery 2009).

2 Responses to “from Michelle Malkin, a modern rendition of Orwelian “all animals are equal, but pigs are more equal than others””

1. Ken B.
   August 1st, 2011 @ 9:39 am

   I like Michelle Malkin, but she is just like all the rest, i.e Rush, Hannity,O’Reilly, etc. She talks about everything except the most IMPORTANT thing, and that’s the eligibility issue. Now what could be more important in Washington DC, than having a usurper in the White House. Go figure.

   What are they afraid of?

2. CH
   August 1st, 2011 @ 11:34 am

   Orly, We need an oil map of the world, with company ownership, people names, and party affiliations to see what is going on. Soros is the reason Obama is in office and our laws are being violated left and right. Today. Tomorrow it will be his enemies. With Soros placing Obama in the White House to arrange his oil drilling, and stop drilling in Alaska, etc., it is pretty obvious that oil is behind all of this. It looks to me like they tempted Palin away from Alaska, to get her out of the way with oil up there. These people are playing power football with our governmentn, the Constitution, and if we could have a map and names and political parties associated with areas and famlies, we could simply choose where to buy gas, and We the People could probably control the powers trying to control us through oil! Many say that our young men are dying overseas simply for oil.

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