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Soros Says Bad Bank Plan Won’t Solve Lending Woes

Jan. 29 (Bloomberg) — Billionaire investor George Soros says that the Obama administration’s plans to buy the toxic assets of U.S. banks will bring “some relief” but will not remedy lending problems.
The so-called bad-bank initiative may allow the government to rewrite some of the mortgages that underpin banks’ bad debt, in the hopes of stemming a crisis that has stripped more than 1.3 million Americans of their homes. Soros spoke yesterday at the World Economic Forum in Davos, Switzerland. For more Bloomberg coverage from Davos see http://www.bloomberg.com (Source: Bloomberg)

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Tags: banks, BBGDVS, credit, Crisis, Davos, Economy, Europe, George, lending, money, News, Soros, Switzerland

7 Comments to Soros Says Bad Bank Plan Won’t Solve Lending Woes

1. 

   kool-aid drinker, …
   kool-aid drinker, wise up.
draggeddownthehole on December 19th, 2009
2. 

   He even looks like …
   He even looks like the Devil. He is actually running the country, via moveon , etc. He should be in Gitmo.
joeasmythe on December 19th, 2009
3. 

   There is A big …
   There is A big change of Power taking Place People Just ask your self if you want China running the world Bank’s? If thing’s keep going this way
Kdawg270 on December 19th, 2009
4. 

   Good to know people …
   Good to know people are opening their eyes now…
Auraeuz on December 19th, 2009
5. 

   nwo? grow up.
   nwo? grow up.
brokeinvestor on December 19th, 2009
6. 

   I used to laugh at …
   I used to laugh at those kinds of comments.

   I’m not so sure I want to laugh, now.
GetMeThere1 on December 19th, 2009
7. 

   new world order is …
   new world order is coming!!!!
dudeonamission2 on December 19th, 2009

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