Soros says Obama victory means 'more sensible politics'

Wed Nov 7, 2012 11:02am IST

George Soros, chairman of the Soros Fund Management and Open Society, speaks during an interview with Reuters in New York April 6, 2009. REUTERS/Shannon Stapleton/Files

George Soros, chairman of the Soros Fund Management and Open Society, speaks during an interview with Reuters in New York April 6, 2009.

Credit: Reuters/Shannon Stapleton/Files

Related Topics

REUTERS - Billionaire investor George Soros said late Tuesday that the projected re-election of President Barack Obama will open "the door for more sensible politics."

Soros, who has contributed mightily to Democratic causes and supported many liberal and progressive groups, told Reuters: "I'm delighted that President Obama has won. The American electorate has rejected extremist positions."

In an email exchange, Soros, who was in Budapest, said he hopes "the Republicans in office will make better partners in the coming years."

He noted that cooperation between America's political parties is "urgently" needed to deal with the so-called fiscal cliff - the yearend combination of expiring Bush-era tax reductions and steep cuts in domestic spending.

Soros, 82, rose to fame and fortune two decades ago on a now-historic trade in which he took on the Bank of England and shrewdly wagered on a devaluation of the British pound.

Last year, Soros, who frequently speaks out on world economic events, converted his hedge fund into a "family office," managing money for relatives and friends. He stopped managing money for outside investors.

(Reporting By Jennifer Ablan and Matthew Goldstein; Editing by Doina Chiacu and Ciro Scotti)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Banking Sector

Banking Sector

India's laggard state lenders face tough sell on capital raising plan  Full Article 

Falling Oil Prices

Falling Oil Prices

Saudis signal no push for oil cut as market to "stabilise itself"  Full Article 

Raising Stake

Raising Stake

Nippon Life to raise stake in Reliance Capital fund unit  Full Article 

Sterilisation Camps

Sterilisation Camps

Sterilisation targets remain in all but name, critics say  Full Article 

Share Buyback

Share Buyback

Samsung Electronics to buy back $2 billion in shares  Full Article 

Bird Flu Scare

Bird Flu Scare

India orders culling after bird flu outbreaks in Kerala.  Full Article 

Microsoft in China

Microsoft in China

Microsoft to pay China $140 million for 'tax evasion'   Full Article 

Flashback: 26/11

Flashback: 26/11

The three-day attack in November 2008 left 166 dead.  Slideshow 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage