Bloomberg – Billionaire investor\u00a0George Soros said the disruption to global financial markets since 2008 has implications for Europe and the U.S. that remind him of the final years of the\u00a0Soviet Union.<\/p>\n
\u201cSomething similar is happening in the West,\u201d Soros, 81, said in an interview on Bloomberg Television\u2019s \u201cEye to Eye with Francine Lacqua,\u201d airing today. \u201cYou had a financial crisis where the market did actually collapse, but it was kept alive by the authorities. People don\u2019t realize that the system has actually collapsed.\u201d<\/p>\n
Soros\u2019s hedge fund decided in July to return money to outside investors, meaning it will only manage assets for him and his family. The move will end an investing career that spanned more than four decades and gained Soros international acclaim in 1992 after he made $1 billion betting that the\u00a0Bank of England would be forced to devalue the pound.<\/p>\n