Financial Turmoil in Europe and the United States

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, deploying measures to stem global contagion from the sub-prime crisis, alternative options on bailing out lesser developed countries and why this was vital, the structural problems of European economic management, and more. 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.

Addresses the need for the United States to restructure the banking and financial system, anticipates the globalization of the crisis, and calls for international action.

Auteur

George Soros was named as the Financial Times Person of the Year for 2018, citing the standard bearer of liberal democracy and open society: the ideas which triumphed in the cold war, now under siege from all sides, from Vladimir Putin's Russia to Donald Trump's America.

For more than three decades, George Soros has used philanthropy to battle against authoritarianism, racism and intolerance. Through his long commitment to openness, media freedom and human rights, he has attracted the wrath of authoritarian regimes and, increasingly, the national populists who continue to gain ground, particularly in Europe.

He is chairman of Soros Fund Management and founder of a global network of foundations dedicated to supporting open societies. Soros is the author of several bestselling books including The Crash of 2008 and The Crisis of Global Capitalism.

Résumé
The legendary financier reflects on key problems in the deepening global economic crisis since publication of his international bestseller The New Paradigm for Financial Markets: The Crash of 2008

Contenu

Preface: Steve Clemons; Introduction by George Soros; Round Two of the Financial Crisis: Eurozone Meltdown and its Super Bubble Roots; Part 1: The Worst Meltdown in 60 Years; Tectonics of Round One of the Global Financial Crisis; "The Worst Market Crisis in 60 Years", FT, 15 Dec 2008; Housing, Credit Default Swaps & Regulatory Blindness; "Reforming a Broken Mortgage System", Politico, 25 Mar 2010; "One Way to Stop Bear Raids", Wall Street Journal, 23 March 2009; "America Must Face Up to the Dangers of Derivatives", FT, 22 Apr 2010; Needed: A Political Gravity-Defying Stimulus Strategy; "America Needs Stimulus Not Virtue", FT, 4 Oct 2010; Part 2: Summers vs Soros on Reforming the System; The Right and Wrong Way to Bail Out Banks; "The Right and Wrong Way to Bail Out the Banks", FT, 22 Jan 2009; Reforming Structural Corruption in the Finance Industry; "The Three Steps to Financial Reform", FT, 16 Jun 2009; "Do Not Ignore the Need for Financial Reform", FT, 25 Oct 2009; Greece as First Domino: Europe's Coming Financial Meltdown; "The Euro will Face Bigger Tests than Greece," FT, 22 Feb 2010; "True Europeans Now Need a 'Plan B", FT, 13 Jul 2011; The Standard Drawing Rights Option: The Periphery Matters; "Peripheral Care Should be the Central Concern", FT, 22 Mar 2009; Part 3: The Second Phase: the Euro Crisis; China & Germany: Recognizing their Hegemonic Responsibilities?; "The Crisis and the Euro," NY Review of Books, 12 Jul 2010; "China Must Fix the Global Currency Crisis," FT, 7 Oct 2010; Will the Euro Survive? Why America and the World Must Care; "Europe Should Rescue Banks Before States", FT, 15 Dec 2010; "How Germany Can Avoid a Two-Speed Europe", FT, 22 Mar 2011; "Does the Euro Have a Future?", New York Review of Books, 15 Sept 2011; Conclusion by George Soros.