Soros Says ‘Basically Bankrupt’ Banks Restrain U.S.

By Simon Kennedy and Rainer Buergin

Oct. 5 (Bloomberg) -- Billionaire investor George Soros said the U.S. economic recovery will be sluggish as “basically bankrupt” financial companies and indebted consumers impede it. “The U.S. will be very slow in recovery,” Soros said in a panel discussion in Istanbul, where the annual meetings of the International Monetary Fund and World Bank begin tomorrow. “The United States has a long way to go.”

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