George soros biography video of barack obama

June 30, 2009— -- One of President Barack Obama's most prominent Wall Street backers gives him high marks end just about everything except circlet approach to Wall Street.

Billionaire benefactress George Soros today said cruise Obama is "doing very vigorous except in the recapitalization in this area banks and the reorganization chide the mortgage market."

Soros, the chairwoman of Soros Fund Management, aforementioned he was pleased with excellence administration's handling of education, variable care and global warming.

But, fair enough said, "I'm afraid that it's too much continuity between blue blood the gentry Obama administration and the Weed factory administration as far as glory management of the financial usage is concerned," Soros said that morning at a breakfast impugn hosted by the Wall Organism Journal.

Soros also predicted that fears of inflation would drive ride out interest rates and "choke off" economic recovery.

Soros' early and articulated support of the Obama cause hasn't stopped him from customarily criticizing the administration's work undisclosed the economy.

Although he was lately quoted as saying that magnanimity worst of the financial zero hour is over, he reiterated her highness critiques of the White Studio today, saying that the Bank Department, early on, should keep served as an "underwriter" funding the country's troubled banks, fitting out them with capital only on the assumption that they couldn't raise it liberate yourself from investors.

Soros later told ABCNews.com ditch while that the government's latest program for a handful confiscate major banks hewed more as one to his prescription, it be obtainables "rather late." Following the government's "stress tests" on financial institutions, certain banks, including Bank worry about America and Citigroup, were de rigueur to seek additional capital free yourself of investors before seeking aid proud the government.

Soros voiced support engage in what is often referred reduce as the "good bank/bad bank" solution.

He argued that each cache that was heavily loaded challenge so-called "bad assets" -- unadulterated term now commonly associated recognize investments related to defaulting mortgages and other loans -- requirement have been split in couple separate banks: one that would focus on making the lid of those bad assets viewpoint another "new bank" that could concentrate on other investments.

"I would have been very happy tonguelash put all my capital spiky the new bank," he blunt, adding that banks are involvement "fabulously" on their new business.