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Bank regulations should improve: Soros
Aditya Suharmoko , The Jakarta Post , Jakarta | Wed, 02/10/2010 12:16 PM | Business
Global financier and philanthropist George Soros said bank regulations should be improved globally to avoid another financial crisis that may freeze the world’s economy.
"I think the way banks are regulated needs to be improved and there's a general need for better regulation," Soros said after a meeting with Vice President Boediono at his office.
Soros is touring Indonesia to visit the Tifa Foundation – which promotes an open society in Indonesia that respects diversity and honors the rule of law, justice and equality – which he finances. He was paying a courtesy call on Boediono.
Soros said the banks had failed to regulate themselves, which led to the recent global financial crisis that erupted in 2008.
"So there was a globalization of markets but there was no globalization of regulations. So now the world faces this problem; that we have to improve the regulations and mechanisms.
"Indonesia is part of this, but it’s not the center of the problem. The center of the problem is actually in America and in Europe," he said.
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Paloma (not verified), Lima — Wed, 02/10/2010 - 6:48pm
George Soros' "philanthropy" extends to anything that pushes his evil agenda, and fills his pockets. Soros is an evil man who profits from the misery of others. He also has billions to influence governments and corrupts anything he comes in contact with. Soros financed Obama campaign. In return has been the recipient of banks, stimulus money, and even more power. The convicted felon is dangerous. Beware of George Soros: http://sorosmonitor.org/