Bloomberg – Billionaire investor George Soros said the disruption to global financial markets since 2008 has implications for Europe and the U.S. that remind him of the final years of the Soviet Union.
“Something similar is happening in the West,” Soros, 81, said in an interview on Bloomberg Television’s “Eye to Eye with Francine Lacqua,” airing today. “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.”
Soros’s hedge fund decided in July to return money to outside investors, meaning it will only manage assets for him and his family. The move will end an investing career that spanned more than four decades and gained Soros international acclaim in 1992 after he made $1 billion betting that the Bank of England would be forced to devalue the pound.
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