By Jennifer Ablan and Matthew Goldstein
Nov 6 Billionaire investor George Soros said
late Tuesday that the projected re-election of President Barack
Obama will open "the door for more sensible politics."
Soros, who has contributed mightily to Democratic causes and
supported many liberal and progressive groups, told Reuters:
"I'm delighted that President Obama has won. The American
electorate has rejected extremist positions."
In an email exchange, Soros, who was in Budapest, said he
hopes "the Republicans in office will make better partners in
the coming years."
He noted that cooperation between America's political
parties is "urgently" needed to deal with the so-called fiscal
cliff - the yearend combination of expiring Bush-era tax
reductions and steep cuts in domestic spending.
Soros, 82, rose to fame and fortune two decades ago on a
now-historic trade in which he took on the Bank of England and
shrewdly wagered on a devaluation of the British pound.
Last year, Soros, who frequently speaks out on world
economic events, converted his hedge fund into a "family
office," managing money for relatives and friends. He stopped
managing money for outside investors.