Soros Funding Paul Volcker to Develop Plans for Handling a US Financial Crisis
Well, this is super interesting.
Ravitch (78), in Rockefeller Center. Ravitch, reports WSJ, "built
a career as a fix-it man for New York City and the state." Ravitch
was at one time chairman of New York State's Urban
Development Corp.
Both Volcker and Ravitch are expecting serious financial
problems for state governments. Reports WSJ:
Now, they are working together as they focus on a looming
crisis at once local and global in scope: the financial distress
of U.S. states...
Ravitch worries Congress will try to balance the federal budget
with billions of dollars in state aid cuts.
A Democrat who was named lieutenant governor in 2009,
and served until the end of 2010, Mr. Ravitch also predicts that
municipal bond holders will have to share with taxpayers and
public workers the pain in correcting the problems. "What we
are seeing in Europe is that everyone has to throw something
into the pot to avoid catastrophe," Mr. Ravitch recently told a
group of municipal analysts.
So they are putting together a task force to prepare for the crisis.
WSJ again:
They hope their task force, which examines five states,
California, Illinois, New York, Virginia and Texas, will
illuminate issues the public doesn't fully grasp...
What does Volcker do when he is not launching this type task
force:
Many visitors to the office come from different worlds. Mr.
Ravitch holds court with New York City officials and upstate
mayors. Most of Mr. Volcker's visitors "tend to be older and
retired,'' he says. "It's a different generation now."
Mr. Ravitch says his office mate is being modest. From down
the hall, he hears presidents and prime ministers calling his pal.
And, by-the-way, George Soros is partially funding the task force:
They have raised $2 million from sources including foundations
founded by businessmen George Soros and Peter G. Peterson.
They've hired a staff and plan to publish a report for the public
sometime next year.
Got all that? There is a financial crisis developing in the United
States at the state level, that most people don't even know about.
But yet, a former Fed chairman, who spends most of his day
fielding calls from "presidents and prime ministers" is getting
partially funded by George Soros to form a task force to develop a
plan to handle the financial crisis. Do you ever get the sense that
George Soros and other insiders like him are three steps ahead in
these crisis situations?
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