THE CURRENT CRISIS & A POSSIBLE REMEDY BY Mr.GEORGE SOROS

I always admired Mr.Geroge soros for his shrewd trading skills specially shorting the market predicting its high. One recent example was OIL. When the whole street is publishing articles, saying crude might touch $175-$200, Including the CEO of OPEC, Soros was against them and finally he won. This article explains about the recent financial crisis and the way to control it. The views are his own.

"The salient feature of the current financial crisis is that it was not caused by some external shock like OPEC raising the price of oil or a particular country or financial institution defaulting. The crisis was generated by the financial system itself. This fact—that the defect was inherent in the system —contradicts the prevailing theory, which holds that financial markets tend toward equilibrium and that deviations from the equilibrium either occur in a random manner or are caused by some sudden external event to which markets have difficulty adjusting. The severity and amplitude of the crisis provides convincing evidence that there is something fundamentally wrong with this prevailing theory and with the approach to market regulation that has gone with it. To understand what has happened, and what should be done to avoid such a catastrophic crisis in the future, will require a new way of thinking about how markets work."
http://www.nybooks.com/articles/22113

(The author, Mr.George soros is a legendary trader & investor who runs Quantum fund.He is also the author of " The New Paradigm for Financial Markets" " The age of Fallibility" and the Famous " The Alchemy of Finance".

If U Never failed.....You never lived..

Life = Risk...
http://in.youtube.com/watch?v=Y6hz_s2XIAU really amazing video....