Monday, 29 September 2008

George Soros on the Credit Crisis

We have just received stock of George Soros's The New Paradigm for Finanacial Markets: The Credit Crisis of 2008 and What it Means in paperback.

I was leafing through it and found in the chapter called My Outlook for 2008 the following: "Eventually, the U.S. government will have to use taxpayer's money to arrest the decline in housing prices. Until it does, the decline will be self-reinforcing, with people walking away from homes in which they have negative equity and more and more financial institutions becoming insolvent..." He wrote that on 23rd March this year.

If you are looking for some insight into the current situation in the financial world, this book looks like a good place to start. Dave

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