March 31, 2009
Record fine for Soros 'illegal manipulation of financial markets'
The principle financier of the Democrats, the man whose early support catapulted Obama into the lead for the nomination, the man who made billions from the stock market crash that changed everything in the fall campaign (McCain was in the lead when the crisis hit), has been given a record fine by Hungarian financial authorities. AFP reports:Hungary's financial supervisory watchdog announced Friday it had slapped a 1.6-million-euro fine on an investment fund founded by US billionaire George Soros, for manipulating the market. The PSzAF said it had fined Soros Fund Management LLC for transactions on the Budapest stock exchange on October 9 that led to a "significant loss in value" of Hungarian OTP bank stocks, which fell in days from 4,000 forint (13.2 euros, 17.86 dollars) to 2,500 forint. The PSzAF "is imposing a 489-million-forint fine on Soros Fund Management LLC... for violating the rules regarding the illegal manipulation of financial markets," the supervisory...(Read Full Post)