Many suspect leftist billionaire George Soros of having profited from Standard & Poor's recent downgrade of the U.S. credit rating. According to ETF Daily News, an “invisible trader” bet nearly $1 billion that the rating would be downgraded. Kenneth Schortgen of the Examiner notes:
While the identity of the "mystery investor" remains unknown, many indicators do point to George Soros as the principal benefactor. First, Soros has been tied to the Obama administration since the 2008 elections. In February of this year in fact, a Soros investment fund profited well on President Obama’s new green energy policies.
Secondly, right about the exact same time as the $1 billion bet took place on the US credit rating downgrade, Soros made public the move to divest his management fund of outside investors, and quietly go private. This move allows him to make trades and investments without being required to notify the SEC under the new Dodd-Frank act passed in Congress last year.
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George Soros (photo)