November 13, 2008 (LPAC)--George Soros, four other hedge fund billionaires, and five scholars of finance testified today on the culpability of hedge funds in financial crisis, in a four-hour marathon hearing of the House of Representatives Committee on Government Oversight and Government Reform. Chaired by Henry Waxman (D-CA), as part of House Speaker Pelosi's series of hearings she bills as a policy response to the crisis, the Committee members bowed and scraped before Soros and the other sharks, politely asking them, what, if any, government regulation hedge fund managers would prefer. The scene was like asking the Devil, 'What temperature should we make it in Hell?"

Briefed on the dismal proceedings, Lyndon LaRouche said what to do with Soros: "Give him the same conditions as God can offer in Hell. Put him in a torture cell next to Eichmann, where Soros belongs for criminal acts for which he is complicit."

Some parameters of the hedge-fund involvement in the current overall blow-out, were given by the professorial witnesses.

Andrew Lo, an MIT researcher estimated that at present, the hedge funds have $1.5 trillion in funds leveraged up to $3 trillion of nominal assets. This is down from 2007, when $2 trillion of funds was leveraged up to $5.5 trillion. A mass investor-stampede out of hedge funds is expected in the next few weeks. It was described how hedge funds evade taxes, raid companies and conduct other depredations as their normal operating procedure.

However, kid-glove treatment was given to George Soros, who led off the panel of hedge fund managers. Soros, Chairman of the $19 billion Soros Fund Management LLC in New York, and career servant of Brutish Empire operations, warned Congress to "beware of going overboard," even though "the bubble has now burst." He said, there should be no "ill-considered punitive regulation" of hedge funds. True, the volume of funds that hedge directors manage is in the process of shrinking by 50-75%, during the "wholesale and disorderly de-leveraging" process, causing chaos all around, but "close monitoring and regulation" is all that is called for.

Only one Congressman, Rep. Mark Souder (R-Indiana), broke profile when he told Soros that his drug-legalization activity was "appalling." Souder said, "I hope you will re-evaluate" your pro-drug campaigns.