Soros: "Depression Possible"

[24/7 Wall St.]

24/7 Wall St. Daily News

http://www.247wallst.com/images/2008/11/13/unemply_2.jpg</img> (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2008/11/13/unemply_2.jpg)George Soros, billionaire money manager, had his turn to join fellow hedge fund managers testifying before Congress.
Soros made a point of scaring the hell out of them.
According to (http://www.reuters.com/article/ousiv/idUSTRE4AC5IN20081113) Reuters, Soros said "a deep recession is now inevitable and the possibility of a depression cannot be ruled out."
He added "hedge funds will be "decimated" by the current financial crisis and forced to shrink their portfolios by 50-75 percent."
Douglas A. McIntyre
http://feeds.feedburner.com/~f/typepad/RyNm?i=M7snN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=M7snN) http://feeds.feedburner.com/~f/typepad/RyNm?i=45VJN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=45VJN) http://feeds.feedburner.com/~f/typepad/RyNm?i=jZsCn</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=jZsCn)


complete story here... (http://www.247wallst.com/2008/11/soros-depressio.html)