Thursday 27 October 2011

George Soros: "People don't realize that the system has actually collapsed" | Credit Writedowns

George Soros: "People don't realize that the system has actually collapsed" | Credit Writedowns

George Soros, who knows a thing or two about finances, likens the threats to Europe and the United States to that of the dying days of the Soviet regime.

“Something similar is happening in the West,” Mr. Soros told Bloomberg Television. “You had a financial crisis where the market did actually collapse, but it was kept alive by the authorities. People don’t realize that the system has actually collapsed.”

The Hungarian-born financier said he himself is confused by Europe's woes.


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