> Luk <luknhard@earthlink.net> wrote in message news:<3F0438AD.4C9F0DC0@earthlink.net>...
> > Nan is one poster who knows history and knows literature.
> > The number of posts she sends is moderate. Background
> > and substance are always evident. I can think of no
> > reason to resent Nan's writing and there is much to learn
> > from it.
> >
In a paragraph of a post in reply to Luk, Bo Raxo wrote:

> The height of her [nanleecro's] idiocy, for me, was the long string of posts > where
> she came up with an astonishing array of criticisms of George Soros,
> along with tons of cut n' paste articles that could be summed up by
> the charge that he gives money to countries and causes other than
> Israel. As was typical for Nan, she made a serious allegation about
> Soros (of insider trading) that was not only unsupported, but utterly
> ridiculous: she apparently doesn't understand that insider trading is
> impossible in currency futures, because there is no inside information
> on which to forecast exchange rate movements.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Friday, 20 December, 2002, 20:01 GMT
Soros found guilty of insider trading

Billionaire financier and philanthropist George Soros has been fined
2.2m euros (£1.4m; $2.3m) for insider trading.
A Paris court found Mr Soros guilty of profiting from inside knowledge
of a 1988 takeover bid for Societe Generale, a French bank.

Mr Soros, who was not in court, denied the allegations.

In a statement he said he was "astounded and dismayed" by the ruling,
and would "appeal the decision to the highest level necessary".

"Let me repeat now what I have maintained from the start: at no point
was I in possession of inside information regarding Societe Generale,"
he said.

"The charges against me are unfounded and without merit."

His lawyers had argued that the incident was too far in the past to
achieve a fair trial.

Two of his co-defendants, Lebanese financier Samir Traboulsi and
Jean-Charles Naouri, an aide to former finance minister Pierre
Beregevoy, were acquitted.

Cashing in
The charges relate to a raid on Societe Generale by tycoon Georges
Pebereau, who built up a substantial stake in the bank before trying
to take control.

George Soros
Born 1930 in Budapest
Graduated from the London School of Economics in 1952
Emigrated to US in 1956
His Quantum Fund has made an average 31% annual return for past three
decades
His Open Society Institute charity has operations in 50 countries
Founded Central European University in 1992

Notorious for profiting from collapse of sterling in 1992
The bid failed, but not before the bank's share price had more than
doubled.

Mr Soros and three other defendants, the court found, bought Societe
Generale stock when it was cheap, and cashed in their investment when
the price rose after the bid became public.

Two other businessmen implicated in the scandal - Edmond Safra and
Robert Maxwell - have since died.

The affair was widely seen as a symptom of the corruption of public
life in France under the presidency of Francois Mitterrand, from 1981
to 1995.

Mr Pebereau, who has never been charged with any offence in relation
to the Societe Generale deal, was acting at the instigation of Mr
Miterrand's socialist administration, which opposed the bank's
privatisation under the previous government.

High profile
Mr Soros is no stranger to controversy.

He is widely known as the man who broke the pound, after helping force
sterling out of Europe's exchange rate mechanism in 1992.

Mr Soros, Hungarian-born but domiciled in the US, was also reportedly
the first American to earn a billion dollars in a single year.

In recent years, he has shifted his focus to his wide range of
charitable projects [known as tax-exempt], which concentrate on
developing democracy and education in Eastern Europe.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~

"nan" <nanleecro@hotmail.com> wrote in message
news:8f49fa86.0307060834.1645af52@posting.google.c om...
> In a paragraph of a post in reply to Luk, Bo Raxo wrote:
>
> > The height of her [nanleecro's] idiocy, for me, was the long string of
posts > where
> > she came up with an astonishing array of criticisms of George Soros,
> > along with tons of cut n' paste articles that could be summed up by
> > the charge that he gives money to countries and causes other than
> > Israel. As was typical for Nan, she made a serious allegation about
> > Soros (of insider trading) that was not only unsupported, but utterly
> > ridiculous: she apparently doesn't understand that insider trading is
> > impossible in currency futures, because there is no inside information
> > on which to forecast exchange rate movements.
>
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~
> Friday, 20 December, 2002, 20:01 GMT
> Soros found guilty of insider trading
>
> Billionaire financier and philanthropist George Soros has been fined
> 2.2m euros (£1.4m; $2.3m) for insider trading.
> A Paris court found Mr Soros guilty of profiting from inside knowledge
> of a 1988 takeover bid for Societe Generale, a French bank.
>

Yes, but Nan, you origianally alleged that Soros MADE his fortune via
insider trading. He was a billionaire long before 1988, and the amount in
dispute is a tiny percentage of the amount he gives away every year (and an
even tinier fraction of his total fortune). The charges are clearly
politically motivated: insider trading charges 15 years after the fact?

You have probably forgotten the original point we were arguing about when
you first posted this article: which was whether Soros made his billions via
insider trading. He made the money in currency futures; you're obviously
too stupid to realize insider trading in currency futures is impossible,
unlike trading in stock in a particular firm.

Sheesh!