10/24/2009

Soros on companies getting money from government

I find Soros' claim of justified resentment ironic given the amount of money that the Obama administration is giving to Soros. For example, the money given to drilling for oil off of Brazil.

The big profits made by some of Wall Street’s leading banks are “hidden gifts” from the state, and taxpayer resentment of such companies is “justified”, George Soros, the fund manager, said in an interview with the Financial Times.

“Those earnings are not the achievement of risk-takers,” Mr Soros said. “These are gifts, hidden gifts, from the government, so I don’t think that those monies should be used to pay bonuses. There’s a resentment which I think is justified.” . . .


I like this:

“With the too-big-to-fail concept comes a need to regulate the payments that employees receive,”


Why just regulating what employees receive? Why not what the shareholders like Soros makes? Does this mean that the government can regulate what Soros makes?

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