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Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
Business Magnate
Businessman
Economist
Financier
Investor
Philanthropist
Philosopher
Trader
Writer
Buda Pest
György Schwartz
György Soros
Profound
Utility
Industry
Sector
Symptoms
Profitability
Huge
Finance
Salaries
Government
Bank
Symptom
Giving
Absurd
Transforms
Aids
Excessive
Basically
Salary

More quotes by George Soros

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I think it is natural that every country has to take care of its interests, but there are some interests that are common to all countries. There are some human interests, or we need also international cooperation. We've sometimes confused it with dictation.
George Soros
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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
George Soros
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Well, you know, I was a human being before I became a businessman.
George Soros
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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
George Soros
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Money values do not simply mirror the state of affairs in the real world valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.
George Soros
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If every rich person gave 50 percent of their wealth to charity, I would not say they should pay more taxes.
George Soros
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Now that I have called you on your false accusation, you are using additional smear tactics.
George Soros
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There is always a divergence between our perception and what actually exists.
George Soros
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Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.
George Soros
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The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
George Soros
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I rely a great deal on animal instincts.
George Soros
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The sovereignty of states must be subordinated to international law and international institutions.
George Soros
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These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.
George Soros
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The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
George Soros
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A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.
George Soros
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I commissioned two political experts to advise me about what I could do to oppose the re-election of President Bush.
George Soros
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The only thing that could hurt me is if my success encouraged me to return to my childhood fantasies of omnipotence - but that is not likely to happen as long as I remain engaged in the financial markets, because they constantly remind me of my limitations.
George Soros
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Advocating democracy has, by other people, often been taken as a form of imperialism, and not without some justification. So the important thing in a democracy is that it doesn't necessarily have to agree with what America's interests are, and it doesn't necessarily have to be serving American interests.
George Soros
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As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.
George Soros
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I have made it a principle to give advice that does not serve my personal interest but rather the common interests.
George Soros