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Re: the bain way

By: Cactus Flower in ALEA | Recommend this post (0)
Wed, 18 Jul 12 6:27 PM | 100 view(s)
Boardmark this board | The Trust Matrix 		Msg. 09032 of 54959
(This msg. is a reply to 09030 by Down And Out Man)
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Fair point re Kochs and Soros.

Of course, we both also know that the Kochs and Soros are actually praised or reviled, not for their wealth or the manner in which they made their money, but for the prominence their wealth has given to their political philosophies.

Are the Kochs also philanthropists? I mean beyond their political contributions. Genuine question. For me, it is their philosophy which I find brutal, but I haven't spent any time on their biographies. Nor do I remember commenting upon them as people.

I don't especially make much of Soros' financial career myself, although he has a lot of bottle and his bet against the UK Treasury actually was enormously beneficial to the UK economy: it forced it out of the ERM. This mechanism was the harbinger for euro membership. Not only did the UK's expulsion relieve the tensions that membership of the ERM were causing at the time. But also, the fact the UK wasn't able to stay in the ERM drew attention to the risks of joining the euro. So but for Soros, the UK would likely be up the creek without a currency paddle right now. Someone should give him an honorary knighthood for that alone.


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The above is a reply to the following message:
Re: the bain way
By: Down And Out Man in ALEA
Wed, 18 Jul 12 5:54 PM 		Msg. 09030 of 54959

Romney was wildly successful as a Wall Streeter. Whooppee, that generally means made lots of money and not, as you say "make something that is - in sum - constructive of real value?"

Wall Street is full of multi millionaires and multi billionaires. Most of them EXTRACTED wealth from others thru the system without actually creating anything of benefit to society. Worship at the altar of money.

That's part of the reason I get such a big kick out of the left's hate for the Kochs and love of Soros. Yep, their politics are different (obviously - Soros left and Koch right.) So is their money. The Kochs grow cattle, drill and refine oil, make chemicals and fabrics, and more other things than I can count. Real products that real people buy and use in their daily lives. While they also make money in the financial markets, it is dwarfed by the income of their REAL product.

Soros made his fortune speculating in currencies and such?

When I hear Obama (or anyone else for that matter) loudly advocate for repeal of the 60/40 long term cap gains treatment of short term futures trades, THAT will get my interest.

Romney sure ain't going to.

This is not to be taken in any way as support for Obama. Nor for Romney. I'll be casting my vote in protest fashion, as I have for the last decade.

D&O

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