BusinessWeek – Billionaire investor George Soros said the “oligopoly” formed by the four biggest U.S. banks “does need to be broken up.”
Soros, speaking today at an event in London organized by the Economist magazine, also said he is “in favor” of the so- called Volcker rule, a U.S. proposal to block banks from engaging in proprietary trading and owning hedge funds or private-equity operations.
