George Soros, the legendary hedge fund manger, is now 78-years-old and as active as a man half his age, using his multi-billion dollar fortune to purse interests in philanthropy, political activism and writing (eight books and dozens of articles/speeches). On Saturday, he released his ninth book, The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means.
He wrote in the Financial Times of London Friday that there are more shoes to drop in the credit crisis if authorities don’t prepare to head them off. One area is credit default swaps:
“Instead of reshuffling regulatory agencies, the authorities ought to prepare for the next shoes to drop …. There is an esoteric financial instrument called credit default swaps.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment