Soros Drills Paulson

Billionaire George Soros lays into Hank Paulson in an interview with Der Spiegel, saying that "the breakdown of the financial markets found him totally unprepared" and that “he went to Congress not with a plan but with a plan to develop a plan.” The decision to allow Lehman Brothers to fail “was a fatal mistake,” and eventually he “stopped doing anything, leaving a vacuum in leadership, and the markets collapsed.” Asked if the Republicans would call a stimulus package “socialism,” Soros responds, “That is exactly what we need now.” And he has some advice for President-elect Obama: “If [Obama] wants to do it alone, we will go into a worldwide depression because America is not in a position by itself to clean up the mess it created.”