BUSINESS
12/07/2010 05:12 am ET | Updated May 25, 2011

George Soros: Banks Are 'Too Connected To Fail'

NEW YORK (Reuters) -- Billionaire investor George Soros said on Thursday that the U.S. financial regulation bill does not address the problem of a banking system that is "too connected to fail".

"We didn't grasp the real problems" in the financial regulation bill, Soros said at a Financial Times conference. Soros argued that the banking system is too compartmentalized and added he doesn't see what has been done to solve that issue.

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