Freedom Line Blog

George Soros, the leftwing hedge fund billionaire and part-time Hungarian Bond villain, announced last week he’s opting out of the regulatory straitjacket he demanded of his industry.  Taking advantage of a little-known loophole in the Dodd-Frank financial “reform” law, Soros is evading the kind of “transparency” he championed for others.

Per Michelle Malkin:

Under Title IV of Dodd-Frank, hedge funds were required to abide by new registration and reporting requirements in an attempt to better police systemic risk (not that the feckless Securities and Exchange Commission has ever been able to fulfill that mission). To evade the regulations, Soros and other firms have used a recently passed rule allowing so-called family offices to shield themselves from both registration and disclosure rules that would have subjected Soros Inc. to a new “Financial Stability Oversight Council.”

But what would Soros want to hide?  More Malkin:

Soros and his family shelled out $250,000 for Obama’s inauguration, $60,000 in direct campaign contributions and untold millions more to liberal activist groups pushing the White House agenda.

…

Over the past year, Soros provided coveted support for Obama and the Democrats’ Byzantine financial “reforms” under the sweeping Dodd-Frank law. He preached to financial publications around the world about the need for increased regulatory controls over his industry. And in November 2008, while paying obligatory lip service to concerns about going too far, he submitted a statement to the House Committee on Oversight and Government Reform that recommended: “The entire regulatory framework needs to be reconsidered, and hedge funds need to be regulated within that framework.”

That is, unless you’ve got creative lawyers and a disingenuous president’s ear.