Tuesday, September 07, 2004

Bainbridge on Volokh on Hastert on Soros

You might recall House Speaker Dennis Hastert's recent comment on George Soros. Specifically, about where the money he works with comes from. Eugene Volokh rightly notes that if Hastert has evidence that Soros is using drug money, he should present it.

Fair enough. But it's not as if the drug money charge is far-fetched - from Wikipedia we have:
Critics point out that Soros plays the currency markets through Quantum Fund, his privately-owned investment fund registered in Curaçao, Netherlands Antilles, a Caribbean tax haven which has repeatedly been cited by the International Task Force on Money Laundering of the OECD as one of the world's most important centers for laundering the illegal proceeds of the Latin American drug trade. By operating from Curaçao, Soros not only avoids paying taxes but also hides the nature of his investors and what he does with their money.
In short, anyone with a pile of money and interests contrary to the US can act through Soros to try to influence US policy. You don't have to be paranoid to see potential dangers in that. If Soros is offended, let him disclose the sources of his money.

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