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George Soros: Investing Legend Predicts Worst is Yet to Come
Renowned investor George Soros said Friday the world financial system has effectively disintegrated, and there’s no near-term bottom to this financial crisis in sight.
Speaking at a dinner at Columbia University, Soros actually compared the current situation to the breakup of the Soviet Union, and said that the whipsaw effects of the crisis are actually more severe than the Great Depression.
"We witnessed the collapse of the financial system," Soros told his audience. “It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom."
He said the bankruptcy of. Lehman Brothers Holdings Inc.…
23Feb2009 | Money Morning | 0 comments | Continued
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