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Tuesday, September 7, 2010

George Soros vs The Tea Party

George Soros and NAACP Look to Take Down Tea Party

Tea Party HD Founder George Loiacono defends the integrity of the political organization.

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George Soros to Donate $100 Million to Rights Group

George Soros, the billionaire investor and philanthropist, plans to announce on Tuesday that he is giving $100 million to Human Rights Watch to expand the organization’s work globally, Stephanie Strom reports in The New York Times.

It is the largest gift he has made, the largest gift by far that Human Rights Watch has ever received, and only the second gift of $100 million or more made by an individual this year, according to the Center on Philanthropy at Indiana University.

“We’re seeing noticeably fewer charitable gifts at the $100 million level from individuals reported than we did just a few years ago,” said Patrick Rooney, the center’s executive director. “Between 2006 and 2008, an average of about 13 gifts a year of that size by individuals was reported. In 2009, it dropped to six, and this year, we know of only one other.”

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George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.