Monday, 23 February 2009

Soros on market fundamentalism

I watched an interview between George Soros and Bill Moyers over the weekend – you can find it on YouTube.
Soros was talking about the end of an era and the need for a complete overhaul of the financial system avoiding the errors of what he calls "market fundamentalism".
Let’s hope that those who are in a position to change the system do something to improve it – this is a unique opportunity.
Alas there’s always the danger that the politicians will pay lip service to the idea of setting up a new financial architecture etc. but secretly be hoping for this crisis to come and go and for the voters to forget about the reasons behind it as they look forward to the next bubble.

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