As the co-founder of Fortress Investment Group, chairman of Springleaf Financial Services

Nationstar Mortgage, and the co-owner of the Milwaukee Bucks professional basketball team, Wes Edens has built an exemplary career in the business world.Wes Edens started out in the financial sphere in 1987, by working for Lehman Brothers. Edens was wise by working his way up to the position of director. Wes Edens decided to leave Lehman Brothers in 1993 in order to join another finance company with more recognition and reputation, called BlackRock Financial Management. Wes Edens became their partner and managing director at BlackRock Financial Management. However, Mr. Edens decided to leave BlackRock in 1997 and venture into the role of company co-founder. With the support of fellow co-founders, Peter Briger, Mike Novogratz, Robert Kauffman, and Randal Nardone, Wes Edens was able to build the company, Fortress Investment Group.

In addition to being a co-founder, Wes Edens is part of a seven-member board at Fortress Investment Group. The Wall Street Journal noted that Wes Edens method of investing is creative. Edens also bets contrarian and is innovative with financing. Edens’ has impressive talents when it comes to hatching new businesses from the investments and monies that he manages for Fortress Investment Group.Wes Edens also manages Fortress Investment Group’s private equity business. Wes Edens was the main driver behind the procurement of Springleaf Financial Services, a subprime lending company. Springleaf was once known as American General Finance, under American International Group’s (AIG) domain. With the acquisition of Springleaf Financial Services, Fortress Investment Group became the majority stakeholder for Springleaf. Wes Edens took over as the chairman of Springleaf Financial Services when Fortress procured their firm.

In 2015, Fortress Investment Group and Wes Edens made a debt-related purchase by buying Citigroup’s OneMain for a price tag of $4.3 billion dollars — it was an all-cash acquisition by Springleaf Financial Services. Fortress owned approximately 80 percent of Springleaf at the time of the Citigroup/OneMain deal in 2015. Fortress Investment Group is a publicly traded company (FIG); it manages assets in the interest of over 1,600 plus clients and investors, internationally.In addition to the CEO’s and co-founder position at Fortress Investment Group for Wes Edens, but he is also the current co-owner of the Milwaukee Bucks, a pro basketball franchise. Wes Edens and Marc Lasry, a fellow finance executive, built a business partnership together and made the decision to purchase the Bucks in 2014. Herb Kohl sold his basketball team to Edens and Lasry for $500 million. Both Edens and Lasry made a promise to keep the Bucks in Milwaukee.

The United States Economic Growth Isn’t Strong Enough To Prevent A Recession In 2016 According To George Soros

 The Unites States has a reputation for being somewhat of an isolationist. A large number of American pay attention to what’s happening in the country not what is happening to neighboring countries or the rest of the world. Those people leave that stuff up to elected officials that get paid to follow world events and economic changes. It’s their job, according to those short sighted folks. But George Soros is not one of those folks. Soros is a hands-on hedge fund manager that pays attention to world events. And he is good at it. Soros is able to see things in other countries that most people don’t see. He recently told that what he sees coming to the United States is not very pretty.

In that interview, Soros said the world is on the verge of a recession that could be worse than the Great Recession of 2008. Many countries that have offered Soros investment opportunities in the past are now investment nightmares. Instead of foreign investors supporting BRICS countries, they are running away from them. Most of the BRICS countries are in a deep recession, and if there aren’t now, they will be in the second half of 2016. Mr. Soros said all countries will experience this new recession because the catalyst for it is a big one. That catalyst is China.

China is certainly the instigator of this new economic contraction, but the European Union seems to be adding more drama to the event. Soros said the EU is on the verge of a collapse. That collapse could happen in 2016 unless the EU stimulates economic growth, solves the euro debt crisis and gets a handle on the migration issue. Soros believes the European Union is not capable of solving any of those issues right now.

When the economic disasters that are playing out in emerging markets is added to the European Union problem and the Chinese issue, there’s little doubt that the United States will avoid becoming part of that messed up situation. In other words, the U.S. economy could begin to contract by the end of 2016, and that contraction will stay around for a couple of years.

The United States is still enjoying GDP growth, but that won’t last long, according to Soros. There are signs that growth is slowing down. It just hasn’t been reported yet. If the United States continues to ignore what’s happening in the rest of the world, the impact of the recession could be worse than it has to be in the past. The Feds should be taking step now to stimulate the economy, but all the news coming from the Feds is another rate hike, and that will be very counterproductive.