Famous investor George Soros said on Friday that the global financial system disintegrate, and that he saw no solution to the problem of the crisis in the near future.
Soros said that the turbulence at this time even stronger than it was during the Great Depression, comparing the situation with the collapse of the Soviet Union, transmits Reuters.
He called the bankrupt bank Lehman Brothers in September last year, turning a step in the global financial system.
«We have witnessed the collapse of the global financial system,», - Soros said at the luncheon at Columbia University. In his words, signals that the market had reached bottom, no.
His statements echoed the words of Paul Volcker, former head of the Federal Reserve, who is also the chief economic adviser to Barack Obama.
Volcker said that industrial production worldwide is falling faster than in the United States.
www.k2kapital.com
21.02.2009
21.02.2009
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