Let banks fail, says US investment sage
OUTSPOKEN US investor Jim Rogers says banks should have been left to go bankrupt.
Rogers, who made his fortune alongside well-known speculator George Soros, said that while he did not begrudge banks now making a profit, they should not have received government bailouts to save them.
Speaking as Goldman Sachs – who received massive state aid last year – revealed a quarterly $2bn (£1.2bn) profit, he said: “All of those people should have gone bankrupt.”
“Isn’t capitalism the system where people are allowed to fail?”
Rogers said the public should now get behind profit-making banks. He said: “These are difficult times, but some people take advantage of it, and make the world better for all of us.”