George Soros has called for a radical break-up of banks which are "too big to fail".
He also backed US President Barack Obama's proposed reforms to limit the size of banks at the World Economic Forum in Davos, the BBC reports.
Speaking at a private lunch, Soros told journalists Wall Street bankers opposing Obama's plans were "tone-deaf".
Soros called the current economic crisis a "super bubble" that had been "generated by the system itself," and was the culmination of 25 years of "smaller bubbles" and misguided attempts to tackle them.
However, Soros praised two UK regulators - Lord Adair Turner of the FSA and Bank of England governor Mervyn King - for understanding the crisis and developing good policies to prevent a repeat.
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