The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: pompsander who wrote (10708)	4/7/2009 1:47:25 PM
From: DuckTapeSunroof	2 Recommendations Read Replies (1) of 103300

A roundtable of Reuters Staff interviews Investor George Soros, Chairman of Soros Fund Management and author of "The Crash of 2008 and What it Means." (13:25) Soros sat down today with Reuters Television and Bloomberg News. Billionaire George Soros said the change to fair-value accounting rules will keep troubled banks in business, stalling a recovery of the U.S. economy. Investor George Soros sees the economy possibly recovering in 2010, he tells Reuters Financial Television “This is part of the muddling through scenario where we are going to keep zombie banks alive,” Soros, 78, said today in an interview with Bloomberg Television. “It’s going to sap the energies of the economy.” Soros told Reuters Financial Television that rescuing U.S. banks could turn them into "zombies" that suck the lifeblood of the economy, prolonging the economic slowdown. "I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth. seekingalpha.com

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