Thursday, June 05, 2008

felonious soros warns of market crash

felonious soros warns of market crashfrom guardian: George Soros, the billionaire hedge fund manager, will warn later today that the oil price has become a bubble that could trigger a stock market crash. The Financial Times reported today that Soros will tell the US Senate commerce committee that oil was pushed to its recent all-time peak of $135 a barrel by a new wave of speculators... Soros himself is no stranger to market speculation, having made a profit of around $1bn in 1992 betting that the UK government would be unable to keep sterling within the European Exchange Rate Mechanism.

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