Wednesday, January 28, 2009
Soros: 'Bad Bank' for Troubled Assets Is Bad Idea
Billionaire financier George Soros told CNBC he disagrees with plans to create a new government entity to buy up troubled bank loans and believes former Treasury Secretary Henry Paulson mis-managed the first rescue attempt of financial institutions.
"That (the "bad bank" proposal) will help relieve the situation, but it will not be sufficient to turn it around," Soros said during a live interview at the Davos economic conference in Switzerland. Instead, Soros said he would create a "good bank" and re-capitalize the good assets...
Yahoo! Finance: Soros: 'Bad Bank' for Troubled Assets Is Bad Idea
"That (the "bad bank" proposal) will help relieve the situation, but it will not be sufficient to turn it around," Soros said during a live interview at the Davos economic conference in Switzerland. Instead, Soros said he would create a "good bank" and re-capitalize the good assets...
Yahoo! Finance: Soros: 'Bad Bank' for Troubled Assets Is Bad Idea
Permalink posted by markw @ 9:47 AM 
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