Soros Called Gordon Brown to Pitch Citrone's Eastern Europe Rescue Plan
Rob Citrone · Rob Citrone – Emerging Markets, Hedge Funds, and Staying in the Game (Capital Allocators, EP.261) · Jul 11, 2022 · at 15:57
Rob Citrone recounts an anecdote from the 2008 financial crisis illustrating George Soros's political reach and speed of execution.
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“George said, what do you think is the big next problem? And I said, George, there's a big problem in Eastern Europe. And if Eastern Europe comes down, then Western European banks are going to go down, and then it's just going to cascade this crisis everywhere. And he said, well, what can we do about that? I said, Western Europe has a lot of money that they can actually lend to the Eastern European countries. Western European banks could say they would have a standstill where they won't take the money out, and the IMF can do a big program for them, and he says, that's a great idea. Let's get Gordon Brown on the line. 10 seconds later, Gordon Brown's on the line, and the next day I see in the paper, Gordon Brown has a big plan to save Eastern Europe, and that's what transpired.”
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