Joy Tiz
Canada Free Press
5/17/2010
George Soros stands to benefit if the phoney financial “reform” bill passes.
Author and businessman Zubi Diamond is critical of the Managed Funds Association (MFA), a lobby group championing the protection of hedge funds, including Soros’ own Quantum Fund, from scrutiny.
The hedge fund short sellers, who are members of the Managed Funds Association, are running our government today. They are the ones who authored the Dodd bill. The Dodd bill is punishing the victims of the Hedge Fund short sellers. The Dodd bill is punishing the good Wall Street.
The Puppet Master, naturally, is the leading member of the MFA, according to Diamond, as well as its busiest and most influential member.
The repeal of the uptick rule and other safeguards enable unregulated hedge funds to wreak market mayhem:
Diamond says that the repeal of the safeguard regulations, such as the uptick rule, circuit breakers and trading curbs, and the introduction of the short ETFs (Exchange traded funds), which began under Christopher Cox at the Securities and Exchange Commission, has given the members of the MFA tremendous power and influence. He says these individuals include George Soros, John Paulson, Jim Chanos, James Simon, and other hedge fund short sellers, including those who operate Quant Funds and engage in computerized trading.
The uptick rule essentially operated as a circuit breaker to prevent complete catastrophe driven by market exploitation. The removal of the uptick rules allows hedge fund short sellers to manipulate stock prices by triggering panic selling.
Many people do not realize that the hedge funds are responsible for 75-90 percent of all trading activities on Wall Street. They are responsible for the extreme market volatility. They are responsible for everything that is bad on Wall Street.
Soros wants the Obama administration to have absolute domination over the stocks in your 401K while allowing cyclopean hedge funds to operate entirely unregulated, unregistered and in stealth.
The article continues at Canada Free Press.
