Hedge Funds

Soros floats his bailout plan


No one could blame hedge fund magnate George Soros for wanting to lend some friendly market advice to members of the U.S. Congress as they mulled a $700 billion bailout package. After all, Soros had just finished a 162-page book called "The New Paradigm for Financial Markets: The Credit Crisis of 2008," and he also sent notes to Senate Democrats and wrote an op-ed piece for the Financial Times that urged the government to focus on recapitalizing faltering banks rather than just buying up billions in bad debt. Maybe the Bush administration was smarting from Soros's massive effort