In a natural follow-up to his international bestseller "The
Crash of 2008: The New Paradigm for Financial Markets", George
Soros reflects on what went wrong with the global economy, and how
to get it back on track. The dire economic situation we find
ourselves in is not a result of economic forces alone, but of the
policies pursued, and not pursued, by world leaders. In this
collection of his recent writings on the global financial
situation, George Soros presents his views and analysis of key
economic policy choices leading up to, during, and following the
financial crisis of 2008-2009. Soros explores domestic and
international policy choices, like how to manage the (then)
potential implosion of Fannie Mae & Freddie Mac; options for
"setting a floor" on the collapsing housing market; deploying
measures to stem global contagion from the sub-prime crisis;
alternative options for bailing out lesser developed countries and
why this was vital; how to bring the credit default swap industry
under control; the structural problems of European economic
management, and more. Edited by The Atlantic's Steve Clemons,
Financial Turmoil in Europe and the United States elegantly
distills the choices at hand, and takes the reader on a journey of
real time economic policy work and experimentation. Soros shows
that economic outcomes are a result of choices made and paths not
taken, and sounds the warning on the dangers of ideologically-based
policy making.
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