Here’s Why a Brexit Isn’t as Bad as George Soros Says

A Brexit won't be worse than the crisis in the early 1990s, when the pound collapsed following Britain's exit of the European Exchange Rate Mechanism, as billionaire George Soros suggested in an op-ed Monday. 'It won't be pretty for the pound - whether it's going to compare with the crisis in the 90s which Soros made his fame, perhaps not,' said Simon Smith, chief economist at FxPro, based in London. Soros made over $1 billion in the early 90s, betting against the pound. The referendum is held on Thursday. TheStreet's Scott Gamm reports from Wall Street.