Talking down the market?

Discussion in 'Economics' started by Phreedm, Jan 24, 2004.

  1. Phreedm


    This is an interesting artcle......take it for what it's worth.

    But Wall Street sources say Rubin may have had other designs as well. A consummate insider who talked the market up when he was working for Bill Clinton, Rubin today could be trying to talk the market down.

    "This market is thin enough that if you made a big move all of a sudden you could move it," Bartlett tells Insight. "At some point, something could happen on its own, and then someone like George Soros could turn a minor blip into something else."

    The Hungarian-born Soros is one of the world's richest men, with a fortune estimated at $7 billion earned in part from brazen assaults on world currency markets. He has gained political notoriety for providing $18 million to support a change in the U.S. campaign-finance laws and then using that change in recent months to offer more than $15 million to radical organizations dedicated to defeating Bush this November.

    Asked recently by the Washington Post whether he would trade his $7 billion fortune to unseat Bush, Soros thought hard.

    "If someone guaranteed it," he said finally.