George Soros
George Soros
George Sorosis a Hungarian-American business magnate, investor, philanthropist, political activist and author who is of Hungarian-Jewish ancestry and holds dual citizenship. He is chairman of Soros Fund Management. He is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of pounds, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Soros is one of the 30 richest people in the world...
NationalityHungarian
ProfessionEntrepreneur
Date of Birth12 August 1930
CityBudapest, Hungary
It is a bizarre thing because I was the only one who was found guilty when the whole of the French establishment was involved,
He is actually doing the right thing for himself because he is preserving himself in power, and he puts himself in a position where he can bail out his cronies who are in financial difficulties, including his son and so on,
The markets are always on the side of exuberance or fear. It's fear and greed. Right now greed has the better of it, which is rather nice (for investors) as long as it doesn't get out of hand,
The objective is to provide the best possible management for the assets of my family and foundations that may also be attractive to other investors with similar objectives, and to put into place a structure that will last beyond my lifetime,
This asymmetry in the treatment of lenders and borrowers is a major source of instability in the global capitalist system and it needs to be corrected,
So I think what needs to happen is he needs to be removed from power,
It will require, I think, the release of funds and perhaps even an increased package to bring stability, ... Everything that could have been done wrong has been done wrong.
Most of the capital (in Indonesia) is in the hands of limited business groups, which don't feel so secure here. Any slightest risk will cause them take their money to Singapore.
There's (a) problem that I think is brewing, and that is the end of the housing boom in the United States and the ability of households to spend more than they earn because the value of their house is rising.
Something really is broken in the international financial architecture, ... We're now in the 20th month of financial crisis. Yet this crisis was brewing, it was the most anticipated crisis in recent history.
I think I lost my touch some time ago. I'm like an aging boxer that should not go into the ring,
This reorganization took place in the full glare of publicity and involved the departure of a large number of employees. Inevitably this gave rise to rumors ... but in fact everything went according to plan,
We have come to realize that a large hedge fund like Quantum Fund is no longer the best way to manage money, ... Markets have become extremely unstable and historical measures of value at risk no longer apply.
This would enable the authority to set a ceiling on the amounts it is willing to insure,