What Soros doesn't like about Obama

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I spent some of the morning at The New America Foundation's conference on the London G-20, where George Soros delivered a talk about the financial crisis and took questions. One of the first questions was: Are you pleased with where the Obama administration is going? To which Soros -- a longtime Obama supporters -- replied:

I give them very high remarks in every area except one. That is the recapitalization of the banks.

Soros's preferred recapitalization method was one that I first saw proposed by Paul Romer: Starting new banks. But he also had a more general criticism: Obama should have focused more immediately -- "out of the gate," in Soros's words -- on bank recapitalization.

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Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism. He was previously a fellow at The Atlantic and an editor at The Guardian. More

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism, an economics blog that was recently published in book form by Simon and Schuster. He was previously a fellow at The Atlantic and an editor at The Guardian. He is also on Twitter.
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