Hedge fund guru Carl Icahn says that the financial system isn’t working properly, and that the high levels of leverage that sparked the 2008 financial crisis have returned. “I really find it amazing that we’re almost back to where it was, where there is so much leverage going on,” Icahn tells CNBC. “”(There’s) just, way too much leverage, way too much risk taking with other people’s money.” Icahn says he thinks there could be “another major problem” ahead. “Now will it happen next week? Next year? I don’t know,” he says. “And that, certainly nobody knows. But I don’t think that the system is working properly.” Icahn also discusses the need for government regulation, and says the Glass-Steagall Act “wasn’t a bad thing”.
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