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George Soros Says TARP Is Poison; It's Worse Than 1930s

WASHINGTON -- The stimulus plan the U.S. government is currently considering is necessary to help American citizens, but it will likely not reverse the country's economic decline, hedge fund manager and billionaire philanthropist George Soros said on Monday.

"It is not enough to turn the situation around," Soros told the U.S. Conference of Mayors about the $850 billion proposal to increase spending and cut taxes.

The plan, which was introduced in the U.S. House of Representatives last week and will likely be passed by next month, will help state and local governments balance their budgets and preserve important social services, Soros said.

At the same time, the $700 billion financial bailout known as TARP for Troubled Assets Relief Program had been carried out in a "haphazard and capricious way" and "without proper planning," he said.

"Unfortunately it was misused and the way it it was done has poisoned the well. It has created tremendous ill will toward putting up more money," Soros said.


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Soros is one of the biggest

Soros is one of the biggest socialist pricks that walks the face of the earth. the world would be much better off without this guy.

"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson

I am more concerned about the return of my money than the return on my money. --Mark Twain

He wants trillions more in stimulus/bailout funds?

That's what it sounds like he's saying. He thinks TARP was bad not just because it was misspent but because it was such a pittance.

New Hampshire and Ecuador.