http://www.ft.com/cms/s/0/49b1654a-ed60-11dd-bd60-0000779fd2ac.html
This is a political piece under the guise of economic analysis. Soros is out of his mind. Lehman and AIG would have blown up regardless of what their stock prices were. "Bear raids did it." Give me a break. They were insolvent.
Not once does he mention housing as one of the root causes of this whole crisis/recession. How could you purport to analyze the meltdown of Lehman and AIG without mentioning housing?
He wants the derivatives market regulated. If regulation is the key to the gates of heaven then how on earth did Freddie and Fannie blow up? They were regulated, in theory.
The overt political riff at the end would be a good laugh if it was not the plan that will be hoist upon us by DC. "Fiscal stimulus will save us." That is laughable. His energy plan is a joke too. Let's see here: using more expensive sources of energy, which will lead to a higher cost of energy, and higher input costs for production is going to help the economy how? Lower prices, not higher prices lead to overall increases in well being. The law of supply and demand will not change.
