The Crash of 2008 and What It Means: The New Paradigm for Financial Markets » (Revised)

George Soros is chairman of Soros Fund Management and is the founder of a global network of foundations dedicated to supporting open societies. He is the author of several best-selling books including The Bubble of American Supremacy, Underwriting Democracy, and The Age of Fallibility. He was born in Budapest and lives in New York City.

A New York Times bestseller on the financial crisis—now updated to address the current economic landscape

The Washington Post - Peter Behr

George Soros is a billionaire speculator whose voice is amplified by real money. His distaste for the Bush administration runs deep: He put millions of dollars into Sen. John Kerry's 2004 presidential campaign. Yet his account of the credit crash is personal and revealing, not mere political bashing.

Setting the Stage

Pt. 1 Perspective

1 The Core Idea 3

2 Autobiography of a Failed Philosopher 12

3 The Theory of Reflexivity 25

4 Reflexivity in Financial Markets 51

Pt. 2 The Current Crisis and Beyond

5 The Super-Bubble Hypothesis 81

6 Autobiography of a Successful Speculator 106

7 My Outlook for 2008 122

8 Some Policy Recommendations 142

Conclusion 153

Acknowledgments 161

About the Author 163