Tags: soros | obama

Soros: Obama Will Listen to Me

By    |   Monday, 23 Mar 2009 10:00 AM

Hedge fund manager George Soros says he has finally found his footing in Washington.

A pariah under the Bush administration and largely overlooked by Clinton, Soros says that "at least I will get a hearing" in Washington now.

Soros plans to use the opportunity to advocate radical regulatory and financial reforms that would rein in financiers — including himself.

"It is, in a way, the culminating point of my life’s work," Soros told The Australian News.

"The American election, the financial crisis … it is actually a very stimulating period.”

Soros wants Washington to loosen its grip on the International Monetary Fund; co-ordinate macroeconomic policies between national governments; and create new international banking and market regulatory regimes that oversee derivative financial products and curb speculators.

He knows this will be a hard sell but remains hopeful.

“I am actually fairly optimistic because the problems are recognized and certainly the new team in America understands things pretty well the same way as I do,” Soros notes.

“And I think (British Prime Minister) Gordon Brown does.”

The problem, Soros says, is that what policymakers fear actually has to happen before they take action, which is why it remains likely we will experience more financial crises.

Brown is hosting a roundtable prior to the April 2 meeting of the Group of 20 leaders in London to discuss capital adequacy, attempts to kick-start the global economy and regulatory reform, including tighter hedge fund regulation, Reuters reports.

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Hedge fund manager George Soros says he has finally found his footing in Washington.A pariah under the Bush administration and largely overlooked by Clinton, Soros says that "at least I will get a hearing" in Washington now.Soros plans to use the opportunity to advocate...
soros,obama
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2009-00-23
Monday, 23 Mar 2009 10:00 AM
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