Friday, 4 April 2008

Financial Crisis (Again)?

Picked this up from today's Star Online "News in brief" but not sure if it is anything to go on since it is at the bottom of a news in brief page:
Soros predicts another fall

NEW YORK: Billionaire investor George Soros said the financial crisis is the worst since the Great Depression and the markets will fall once more this year after a brief rebound, Bloomberg News reported yesterday.

“We had a good bottom,” Soros told Bloomberg, referring to Wall Street's rally following JPMorgan Chase's deal to buy beleaguered Bear Stearns Cos.

“This will probably not prove to be the final bottom,” he told Bloomberg, adding the rebound may last anywhere from six weeks to three months as the US moves closer to a recession. – Reuters

Is this going to be true? More problems ahead? :O

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