dglenn: Me in kilt and poofy shirt, facing away, playing acoustic guitar behind head (Default)
posted by [personal profile] dglenn at 05:24am on 2012-09-16

From the Quotation of the day mailing list, 2008-09-09:

Judy Woodruff: You write in your new book, The New Paradigm for Financial Markets, that "we are in the midst of a financial crisis the likes of which we haven't seen since the Great Depression." Was this crisis avoidable?

George Soros: I think it was, but it would have required recognition that the system, as it currently operates, is built on false premises. Unfortunately, we have an idea of market fundamentalism, which is now the dominant ideology, holding that markets are self-correcting; and this is false because it's generally the intervention of the authorities that saves the markets when they get into trouble.

-- George Soros, Chairman, Soros Fund Management, from an interview with Judy Woodruff on Bloomberg TV on April 4.

(submitted to the mailing list by Mike Krawchuk)

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