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June 04, 2007
Soros' big Halliburton stake
Ed Lasky
Mike Boyer, writing in the Passport blog of Foreign Policy Magazine, notes the gigantic stake George Soros has taken in Halliburton, the epitome of evil in the eyes of his left wing friends:
Soros' position in Halliburton is reported to be his first, which means he bought it with a full understanding of Halliburton's reputation. Soros may not see a problem with profiting from a company that has been accused of everything from sweatheart deals to cooking the books to serving U.S. troops lousy food in Iraq. The real question, however, is whether MoveOn.org, the Center for American Progress, and other organizations that have benefitted from Soros' charity will see a problem with accepting money earned off Halliburton shares?
I checked the holding of Soros Asset Management. The hedge fund's fourth-largest holding: Halliburton (3.5% of his firm's portfolio)
I wonder if maybe he helped persuade them to move operations to Dubai in the Middle East, making it harder for US to impose fines, monitor them, etc. He is, after all, the master of relying on offshore entities to avoid US rules and regulations.
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