George Soros, chairman of Soros Fund Management, testified at a House Oversight and Government Reform Committee hearing on Thursday. Highlights:*"Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself."
* Said "a deep recession is now inevitable and the possibility of a depression cannot be ruled out."
* Said hedge funds were an integral part of the financial market bubble which now has burst.
* Said hedge funds will be "decimated" by the current financial crisis and forced to shrink their portfolios by 50-75 percent....MORE