Thursday, November 13, 2008

Soros: "Depression Possible"

"George Soros, billionaire money manager, had his turn to join fellow hedge fund managers testifying before Congress. Soros made a point of scaring the hell out of them.

According to Reuters, Soros said "a deep recession is now inevitable and the possibility of a depression cannot be ruled out." He added "hedge funds will be "decimated" by the current financial crisis and forced to shrink their portfolios by 50-75 percent." "

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