Report: Soros Made $10 Billion on S&P Downgrade Bet


A mystery investor reportedly made $10 billion on the S&P downgrade bet that the US would lose its AAA credit rating.
The Daily Mail reported:

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.

He made more than $1billion on currency speculation when the British pound left the Exchange Rate Mechanism on Black Wednesday in 1992.

But a source with knowledge of the firm said Soros was not involved in the rumoured trade and questioned whether in fact there had been such a trade at all.

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  • Fiftycal

    Hey, ObamMAO had to pay off his OWNER!

  • befuddled

    Either way, I am sure Obama’s buddy Holder will get right on this….

  • http://heresysubject.com Josh

    Ahhh…. Obama’s puppetmaster profits at our demise………… who would’ve thought!??

    Lord Vader must be proud of his master.

  • Faye

    Told you that the socialist dems and their state run media were throwing victory parties about their accomplishment for the downgrade. ( of course they will blame Bush, Republicans, the Tea Party so their hands appear unsoiled).

  • FU#K OBAMA

    TREASON for distroying our country and bringing us to this point.

  • http://heresysubject.com Josh

    You know the difference between Darth Vader and Obama??

    One uses telepathy to fool his enemies while the other uses a teleprompter.

  • tru

    Soros should be sharing a cell with Made-off.

  • Joanne

    I’m not sure if the markets will recover this time or not, but you can be sure Soros will be making a lot of money off the backs of everyone else.

  • bg

    ++

    somehow already knew that when i woke up this morning..
    just needed confirmation, and whala, thar she blows.. :-(

    ==

  • babeol

    Yes, it is time for charges of treason to be filed against George Soros.

  • Molon Labe

    I do not believe this story which is wrong on so many levels.

  • Ozark Lee

    Soros is a very smart man.

    Collectively I think we are even smarter but the problem is that he has more money than all of us put together.

    We need to brainstorm on how to take the guy down and I mean to take his money away from him. That is what the left has planned for us.

    The markets have made absolutely no sense to me beyond the headline DJIA and S&P 500 numbers.

    Our credit gets downgraded and the bond yield falls – Hmmm.

    The dollar gains ground on the Euro and the Yen – Hmmm.

    I’m only an electrical engineer with a math minor and an econ minor but some one has to splain me what is going on. My bet is the fed monetizing everything but why would the dollar go up?

    Do we suck that much less than the EU folks?

    Confused in Kansas City.

    …Lee

  • Taxpayer

    I’d bet my bippy it was Soros–behind a half-dozen shell companies….

  • myohmy

    George Soros is the epitome of evil.

  • Ginger

    I have some thoughts as to what should happen to that old fart but I will keep them to myself. He is such an evil little man!

  • mg4us

    Wouldn’t be surprised that obama and Geitner planned this out or tipped him off. . Obama is a Sorros puppet. .Sorros and the Chinese that is. .

  • Molon Labe

    #12

    Yes the Euro will not survive another five years. Greece is dead. Italy, Spain, Ireland will soon go zombie. They may pull down France, Germany and the UK. Each nation has a debt situation as bad or worse than the USA.

  • http://bidsfromthepros.com sliderblaze

    wouldnt surprise me at all.

  • Militant Conservative

    Think of it this way. Soros with the aide of Obama

    raped your 401k and savings so your family is

    Poorer. Spreading the wealth around, yours.

    Powder is dry

  • lizzy84

    Hardly a coincidence that this evil SOB took his hedge funds private–2 weeks ago:

    link@:http://online.wsj.com/article/SB10001424053111903999904576469761599552864.html