- 1. "I actually implemented a scheme with $US100 million for scientists.
- My scheme actually was implemented and
- had a big effect on science" ****
- 2. TARP: "I wrote an oped piece pointing out that that is the wrong way to go and the Democratic majority in Congress inserted language which
- allowed the Treasury to use it for equity and actually
- Paulson then changed his mind and used it for equity"...***
- George Soros: No. If anything I probably get less information than most people because I tend to focus on what I consider to be the salient features and neglect the less important so it is more by process of triage that I work."...
- go to Wilson's talking about current issues. This is the only edit from the article). ed.)
(The Australian, continuing): "So do you have a sense that things are coming together for you now?
- It is in a way a culminating point of my life’s work, so to speak.
Everything is coming together.
- Yeah, the American election, the financial crisis, the theory of reflexivity. So it is actually a very stimulating period.
Just as well you didn't retire ten years ago.
- Right, right.
Will you be having any input with the Obama administration?
- Well, at least I will get a hearing.
I have read conflicting accounts of whether you got a hearing with the Clinton administration. You complained that you were not listened to but (Treasury secretary)
- Larry Summers says he treated you like a head of state.
- I did get a hearing; it is just that I didn’t prevail. I was advocating policy issues and I did get a hearing but my recommendations did not ever lead to implementation by the government.
That was mainly in relation to eastern Europe?
- Mainly to eastern Europe and Russia. I was advocating, for instance, using the IMF’s
- $US15 billion to distribute to guarantee the pensions and the unemployment I actually implemented a scheme with $US100 million for scientists. (LINK)
- My scheme actually was implemented and
- had a big effect on science but the larger scheme was not implemented.
You have described your investments in Russia around that time as one of your biggest mistakes.
- Well it was um… I lost money on the investment. But interestingly for the first time
- I actually had an effect on policy in connection with TARP (Troubled Asset Relief Program) because when Secretary Paulson proposed using it for the buying of toxic assets
- I wrote an oped piece pointing out that that is the wrong way to go and the Democratic majority in Congress inserted language which
- allowed the Treasury to use it for equity and actually (LINK)
- Paulson then changed his mind and used it for equity although he didn’t do it the right way. But I would say that was
- the first experience in my life, maybe there were some others but that was the first when I really felt that I did actually succeed in influencing policy.
- I am working on it.""
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