Description
“The Crash of 2008 and What it Means: The New Paradigm for Financial Markets” is a book written by George Soros, a renowned investor and philanthropist. The book was published in 2008, shortly after the global financial crisis of that year.
In the book, Soros argues that the financial crisis was not a random event or a result of a few bad actors, but rather the culmination of a longer-term trend towards an unsustainable financial system. He contends that the crisis was caused by a combination of factors, including the excessive use of leverage, the growth of the shadow banking system, and the failure of regulators to keep up with the innovations in financial markets.
Soros also proposes a new paradigm for financial markets, which he believes is necessary to prevent future crises. This new paradigm involves a greater role for government in regulating financial markets, including the creation of a global regulatory body to oversee financial markets worldwide.
Soros is known for his expertise in financial markets and his successful track record as an investor, and his insights in this book have been influential in shaping discussions about the causes and consequences of the 2008 financial crisis.
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