Quantum Fund co-founder George Soros had it right on Monday, when he said the U.S. recovery would be held back by “basically bankrupt” banks and companies.

Over the past year, Brazil has established itself as one of the most exciting markets in the world for investors. Its Bovespa stock index is up 55% this year. And the discovery of the huge new Tupi oil field off its east coast has led some investors to refer to Brazil as the “New Saudi Arabia.”

GM to Sell Opel to Magna; U.S. Foreclosures Improve in August; Bank of England Holds Rates Steady; Emerging Market Stocks at Expensive Levels; U.K. Housing Prices Rise 0.8% in August; Turkey GDP Down 7% in 2Q; Suntory in Talks to Buy Drinkmaker Orangina.

At 53 years of age, John A. Paulson manages about $30 billion in his hedge funds. Over 2007 and 2008, he pocketed $10 billion in profits after he correctly bet that the subprime-mortgage market would crash.  His Credit Opportunities Fund earned nearly 500% gains in that year.

Geithner Calls For Regulatory Reform; Fed President Sees 2009 Rebound; Bank of China Posts 59% 4Q Profit Drop; Goldman Plans to Repay TARP money quickly; U.K. Inflation up 3.2% in February; Major Exchanges Want New Curbs on Short-Selling; Lloyd’s Says Insurance Rates to Rise; Copper Prices Take Breather After Rising 30% on China Demand; Mexico’s Inflation Holds Up Rate Cut

The U.K. government yesterday (Wednesday) announced its own banking bailout package with an $87 billion (50 billion pound) recapitalization plan for the ailing British financial sector.