Did Soros Make $1B Betting on U.S. Downgrade?

Who made a billion dollars on 10/1 bet that U.S. credit rating would be downgraded?

By Mark Duell, The Daily Mail

Last updated at 5:03 PM on 8th August 2011

A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.

Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market.

There are mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved.

He made more than $1billion on currency speculation when the British pound left the Exchange Rate Mechanism on Black Wednesday in 1992.