Friday, April 10, 2009
Americans "Fool's Paradise" Now Gone Forever
George Soros says US has been “living in a bubble for 25 years” and blamed much of current crisis on decades of blind faith in supposed wisdom of the markets. The interview, which you can watch, came almost exactly a year after Soros described a “superbubble” that was in the process of bursting. Since, some of Wall St’s most famous financial institutions have failed or been sold at bargain-basement prices. Now, government considering sweeping changes to regulations that date back to Depression and it's time to “rebuild the financial system on sounder grounds.
Posted by Stuart Rosenthal