George Soros: Crisis Worse Than Lehman Brothers

Sep 6, 2011
J. Webster
Comments Off on George Soros: Crisis Worse Than Lehman Brothers

Damn, I thought Noriel Roubini was Dr. Doom, maybe George Soros is taking on that role now. However, the good news here is that if he’s sounding the alarm that European banks have to recapitalize to ensure another Lehman Brothers doesn’t take place, maybe they’ll listen this time.

“This crisis has the potential to be a lot worse than Lehman Brothers,” said George Soros, the hedge fund investor, citing the lack of an authoritative pan-European body to handle a banking crisis of this severity. “That is why the problem is so serious. You need a crisis to create the political will for Europe to create such an authority, but there is still no understanding as to what the authority will do.”

Source: NY Times

Related Posts Plugin for WordPress, Blogger...

Comments are closed.