NEW YORK (HedgeWorld.com)–Global macro trader and philosopher George Soros finds himself in a very public feud with the Speaker of the U.S. House of Representatives, J. Dennis Hastert.
On Aug. 29, the speaker appeared on Fox News Sunday. In the course of a discussion of campaign finance laws and the controversial candidate-independent ad financing vehicles known as 527s, Mr. Hastert decided to use Mr. Soros as an illustration of problems with the existing system.
"I don't know where George Soros gets his money," he said. "I don't know where–if it comes from overseas or from drug money or where it comes from. And I–"
At this point, the program's host, Chris Wallace, interjected, "Excuse me?" and Mr. Hastert continued, "Well, that's what he's been for a number of years–George Soros has been for legalizing drugs in this country. So, I mean he's got a lot of ancillary interests out there."
Mr. Soros wrote a public letter to the speaker, demanding an apology, Aug. 31. "Your recent comments implying that I am receiving funds from drug cartels are not only untrue, but also deeply offensive. You do a discredit to yourself and to the dignity of your office by engaging in these dishonest smear tactics. You should be ashamed."
