US Is "More Communist than China": Jim Rogers

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The nationalization of Fannie Mae and Freddie Mac shows that the U.S. is "more communist than China right now" but its brand of socialism is meant only for the rich, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe. "You can see that this is welfare of the rich, it is socialism for the rich… it's just bailing out financial institutions," Rogers said.

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