Soros Tries to Shutdown Even More Competitors

Good old George, he's tying to regulate away even more competition.

Soros said banks should be barred from using savings deposits to speculate on the financial markets and called for tighter regulation, Germany’s Stern magazine reported, citing an interview.

“Banks have long become hedge funds,” Stern quoted Soros as saying. “They use the deposits of savers to speculate on their own account. This should be prohibited.”

Soros also expressed sympathy for Occupy Wall Street demonstrators, according to the magazine. This shouldn't come as a surprise, since he is one of the key funders of the occupation.