General Motors, Chrysler Seek

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‘The Economy Fell off the Cliff’

‘The Economy Fell off the Cliff’

George Soros, 78, has made billions as a hedge-fund manager and investor. SPIEGEL spoke with him about the current financial crisis, how he expects President-elect Barack Obama to respond to the economic disaster and the responsibilities borne by speculators.

SPIEGEL: Mr. Soros, in spite of massive interventions by governments and federal banks the financial crisis is getting worse. The stock markets are in free fall, millions of people could lose their jobs. More and more companies are in trouble, from General Motors in Detroit to BASF in Ludwigshafen. Have you ever seen anything like it?

Soros: Never. I find the present situation dramatic and overwhelming. In my latest book

Pacific Rim Leaders Vow Further

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Obama Vows Swift Action on Vast Economic Stimulus Plan

Obama Vows Swift Action on Vast Economic Stimulus Plan

By JACKIE CALMES and JEFF ZELENY
Published: November 22, 2008

WASHINGTON

If Detroit Falls, Foreign Makers Could Be Buffer

If Detroit Falls, Foreign Makers Could Be Buffer

By LOUIS UCHITELLE
Published: November 16, 2008

The failure of one or more of Detroit