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George Soros Stands To Gain Millions From His Purchase Of MF Global Bonds

Posted By admin On December 15, 2011 @ 4:42 am In Money Watch | Comments Disabled

Becket Adams
The Blaze [1]
December 15, 2011

Remember when The Blaze [2] reported that George Soros’ family fund bought $2 billion worth of MF Global’s European bonds?

At the time we reported:

…When MF Global filed for bankruptcy, the firm sold part of the bonds but still had about $4.8 billion worth of them on its books, CNBC [3] reports.

They were turned over to KPMG, MF Global’s bankruptcy administrator in London; they were then offered to big investors by MF Global’s London clearing house, LCH Clearnet, the Journal said, quoting a KPMG spokeswoman.

When KPMG offered the bankrupts firm’s European debt to a variety of big investors, most of them passed. However, they were able to find one investor willing to buy the bonds at rock-bottom prices: George Soros.

A spokesman for Soros declined to give details about the company’s positions and why it decided to buy the bonds.

“While our firm is always in the market, we have a policy of not disclosing details of our positions,” the spokesman told the Wall Street Journal.

Full article here [1]


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URLs in this post:

[1] The Blaze: http://www.theblaze.com/stories/george-soros-stands-to-gain-millions-from-his-purchase-of-mf-global-bonds/

[2] The Blaze: http://www.theblaze.com/stories/stories/scavenging-soros-market-speculator-buys-up-2-billion-of-mf-globals-debt/

[3] CNBC: http://www.cnbc.com/id/45610428

[4] Scavenging Soros: Market Speculator Buys Up $2 Billion Of MF Global’s Debt: http://www.prisonplanet.com/scavenging-soros-market-speculator-buys-up-2-billion-of-mf-globals-debt.html

[5] Euro Debt Crisis Is Worse Than US in 2008: George Soros: http://www.prisonplanet.com/euro-debt-crisis-is-worse-than-us-in-2008-george-soros.html

[6] George Soros Lauds Chinese Model Of Goverment – Wants Global Governance Under UN Security Council: http://www.prisonplanet.com/george-soros-lauds-chinese-model-of-goverment-%e2%80%93-wants-global-governance-under-un-security-council.html

[7] George Soros: The United States Must Stop Resisting The Orderly Decline Of The Dollar, The Coming Global Currency And The New World Order: http://www.prisonplanet.com/george-soros-the-united-states-must-stop-resisting-the-orderly-decline-of-the-dollar-the-coming-global-currency-and-the-new-world-order.html

[8] Why People Are Going Nuts Over The New George Soros Speech On Europe: http://www.prisonplanet.com/why-people-are-going-nuts-over-the-new-george-soros-speech-on-europe.html

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