The Australian, "Soros interview part one," by Peter Wilson, 3/20/09

Two points from Soros interview, 3/20/09. First, he influenced the spending of $100 million US dollars in a particular area of 'science' (doesn't state what aspect of science). Second, advised democrat congress under Treas. Sec. Hank Paulson NOT to use TARP money to help troubled assets but to use it for equity instead. Soros says he really influenced policy in the TARP situation (under Paulson).

• 1. "I actually implemented a scheme with $US100 million for scientists.
  
• My scheme actually was implemented and
  
• had a big effect on science" ****

• 2. TARP: "I wrote an oped piece pointing out that that is the wrong way to go and the Democratic majority in Congress inserted language which
• allowed the Treasury to use it for equity and actually
  
• Paulson then changed his mind and used it for equity"...***

3/20/09, "Peter Wilson: I am interested in how you keep track of so many issues and areas. Is your information structure different from other major investors? Do you place more emphasis on geopolitics than most?

• George Soros: No. If anything I probably get less information than most people because I tend to focus on what I consider to be the salient features and neglect the less important so it is more by process of triage that I work."...

(I skip the next 3 questions and responses were not revelatory and

• go to Wilson's talking about current issues. This is the only edit from the article). ed.)

(The Australian, continuing): "So do you have a sense that things are coming together for you now?

• It is in a way a culminating point of my life’s work, so to speak.

Everything is coming together.

• Yeah, the American election, the financial crisis, the theory of reflexivity. So it is actually a very stimulating period.

Just as well you didn't retire ten years ago.

• Right, right.

Will you be having any input with the Obama administration?

• Well, at least I will get a hearing.

I have read conflicting accounts of whether you got a hearing with the Clinton administration. You complained that you were not listened to but (Treasury secretary)

• Larry Summers says he treated you like a head of state.
  

• I did get a hearing; it is just that I didn’t prevail. I was advocating policy issues and I did get a hearing but my recommendations did not ever lead to implementation by the government.

That was mainly in relation to eastern Europe?

• Mainly to eastern Europe and Russia. I was advocating, for instance, using the IMF’s
  
• $US15 billion to distribute to guarantee the pensions and the unemployment I actually implemented a scheme with $US100 million for scientists. (LINK)
  
• My scheme actually was implemented and
  
• had a big effect on science but the larger scheme was not implemented.

You have described your investments in Russia around that time as one of your biggest mistakes.

• Right.

It is interesting that Rupert Murdoch has a similar view. He said he sold his only business in Russia before they could steal from him.

• Right, right.

And that was your experience?

• Well it was um… I lost money on the investment. But interestingly for the first time


• I actually had an effect on policy in connection with TARP (Troubled Asset Relief Program) because when Secretary Paulson proposed using it for the buying of toxic assets
  
• I wrote an oped piece pointing out that that is the wrong way to go and the Democratic majority in Congress inserted language which
  
• allowed the Treasury to use it for equity and actually (LINK)
  
• Paulson then changed his mind and used it for equity although he didn’t do it the right way. But I would say that was
  
• the first experience in my life, maybe there were some others but that was the first when I really felt that I did actually succeed in influencing policy.
  

Hopefully there will be a few more?

• I am working on it.""

In summary, Soros does not disagree that the Clinton administration treated him "like a head of state." But he doesn't feel he got much accomplished as a result. As of this year-old interview, he says he did influence how original TARP funds were spent under Paulson (ie the hard earned US taxpayer dollars supposedly administered by congress). ed.

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