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Wednesday, March 3, 2010

Soros : The Financial Reform is not an urgent thing better to do it right than to do it right away

George Soros on CNN: Soros is not satisfied with Obama so far


George Soros was a great supporter and contributor to Barack Obama but he is not satisfied with him so far . "Markets do not correct their own excesses , when I see a bubble I buy it" says George Soros "that's how I make money" , George Soros also speaks with Fareed Zakaria of CNN about China and where he sees its relations with the United states going .

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1 comment:

  1. AnonymousMarch 26, 2010 at 5:03 AM

    Dear Mr Soros,
    Thank you for sharing your views and for your work on solving global problems.
    Do you agree that the financial markets have effectively ceased playing a positive role in efficiently allocating resources due to the excessive leverage? Whilst the Internet bubble might have brought about certain good things, the housing bubble in the US brought 27% unemployment among construction workers and pushed American households into debt. To what extent do you consider private debt (accumulated due to irrational expectations) as an immediate driving force of the crisis and to what extent do you think that the reflexivity theory you promote is consistent with the market instability hypothesis of Hyman Minsky? Would you consider your views as complementary to these expressed by prof Steve Keen?
    http://www.debtdeflation.com/blogs/research/

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George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.