Sunday, February 22, 2009

Soros Says Financial Crisis Marks End of a Free-Market Model



The philosophy of “market-fundamentalism” was now under question as financial markets have proved to be inefficient and affected by biases rather than driven by all the available information, he said.

"A more effective approach for restarting the economy would be to inject capital directly into the banks and cut minimum capital requirements," Soros said.

Sounds like he's been listening to my radio show and reading my blog! However, I said eliminate capital requirements.

Read full story here.

2 comments:

Mike Sankowski said...

Hi Mike,

Sometimes when Soros talks I think people really mis-understand him. We are going to move to a less free system, but that does not mean we will not have markets.

I read your stuff all the time at Moslers place. I recently stumbled across it and am completely floored at how much sense it makes.

Best,

Mike
Mike

Mike Norman said...

Hey, thanks Mike! Great to see you here and thanks for the kind words!!