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Thu 01 Jan 2009Soros says crisis could match Great Depression
FINANCIER GEORGE Soros believes the US banking system needs $1.5 trillion (€1.1 trillion) to be saved and that the current economic crisis could be worse than the 1930s Great Depression.
Mr Soros, who made $1 billion betting on the collapse of sterling in 1992, told reporters on the first day of the World Economic Forum annual meeting in Davos that bank bailouts by taxpayers and fiscal stimulus packages would not be enough to revive the global economy.
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