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Friday, October 25, 2013

George Soros backs pro-Hillary Clinton super PAC

WASHINGTON — Billionaire financier George Soros is joining forces with others urging Hillary Rodham Clinton to run for president in 2016, becoming the best-known Democratic donor to provide his money and name to the Ready for Hillary super PAC.
The move, announced Thursday by the super PAC via Twitter, could attract other big-name donors to a possible Clinton candidacy, potentially making it harder for other Democrats to compete financially with Clinton should she decide to seek the nomination.
Soros will serve as a co-chair of the super PAC's national finance council. Each member commits to contribute or raise at least $25,000 for the political action committee. The council meets Nov. 12 in New York City.
Read More : http://www.usatoday.com/story/news/politics/2013/10/24/george-soros-joins-fundraising-effort-to-promote-hillary-rodham-clinton-presidential-bid-ready-for-hillary-super-pac/3177411/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+usatoday-NewsTopStories+%28USATODAY+-+News+Top+Stories%29

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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.