George Soros Warns 'Zombie' Banks Could Suck Lifeblood Out of Economy

[Brian Foley]

George Soros Warns 'Zombie' Banks Could Suck Lifeblood Out of Economy

Billionaire investor George Soros has warned that bailing out banks could turn them into "zombies" that suck the lifeblood of the American economy, which he predicted is in for a "lasting slowdown".

He also cautioned that the recent rise in global stockmarkets is a "bear market rally because we have not yet turned the economy around".

His gloomy verdict weighed on Asian stockmarkets today, alongside a report that the International Monetary Fund now estimates that the toxic debts racked up by banks and insurers could spiral to $4tn (£2.7tn).

I wish zombie hackers would drain his accounts.

[draqon]

his worried about his money, that punk. I also wish hackers would make him pay.

[Randwolf]

his worried about his money, that punk. I also wish hackers would make him pay.

Draqon, what nonsense are you spewing now? Besides the potential irrelevancy here, don't most people worry about their money? No matter how little or how much they have? Don't you worry about your money?

[Brian Foley]

his worried about his money, that punk. I also wish hackers would make him pay.

Its fucking a tad rich of him especially after his deliberate interference and vandalism which led to the 1997 Asian Financial Crisis then this prick has a nerve to now see himself as the economist of peoples choice.

[draqon]

Draqon, what nonsense are you spewing now? Besides the potential irrelevancy here, don't most people worry about their money? No matter how little or how much they have? Don't you worry about your money?

I am outraged by the way the article wrote this...."George Soros has warned that bailing out banks"

Like he is some sort of humanitarian caring angel who wants to help economy. By all accounts a devil in sheeps skin is what he is, greedy to the point that he would rather see economy collapse than loose some money from his shares.

[draqon]

Its fucking a tad rich of him especially after his deliberate interference and vandalism which led to the 1997 Asian Financial Crisis then this prick has a nerve to now see himself as the economist of peoples choice.

Exactly! he is even worse than that scapegoat Madoff (as if he was the only one)

[Pandaemoni]

Its fucking a tad rich of him especially after his deliberate interference and vandalism which led to the 1997 Asian Financial Crisis then this prick has a nerve to now see himself as the economist of peoples choice.

I was led to believe that his role in that was mostly overstated. Even the wikipedia article says that he lost money in that crisis because he had bets *against* Asian currency devaluation. That he bet Asian currencies would remain strong is basically the opposite of a smoking gun if the charge is that he torpedoed the Asian markets.

Still, I am sure there must be a stronger case to be m,ade against him. Do you have any sources that support the claim that he had a direct role in that crisis?