Jim Rogers: They Should Have Let Citi FailBy Alexis GlickThis

Jim Rogers: They Should Have Let Citi FailBy Alexis GlickThis

November 25, 2008 12:38PM

morning legendary investor Jim Rogers joined me on Money for Breakfast for an in depth interview. If the name is not familiar, just Google his name and you’ll see countless articles on him. One of his greatest achievements, although he may disagree, was meeting a man named George Soros, where together they founded the Quantum Fund. In the 10 years after it was launched, they famously returned 4200% while the S&P gained 47%. It was the FIRST truly international fund. Since then, a lot has changed. He moved to Singapore in December of last year because as he said, “moving to Asia now is like moving to New York City in 1907.” He’s an exceptionally bright man who has made many people tons of money along the way. He has aquirky sense of humor, an honesty that is refreshing and holds no punches.
This morning I had the opportunity to get his reaction to the breaking news about the Treasury and Federal Reserve’s two new lending and repurchase facilities to the tune of $800 billion dollars. In hindsight, had they known he was on tv, they may have held back the announcement. He is angry, frustrated and feels that we are digging ourselves into a deeper and deeper hole. He urges us to allow banks and other companies to fail.

http://glickreport.blogs.foxbusiness.com/2008/11/25/jim-rogers-citi-should-have-been-let-to-fail/