Tarnished 'truth': The New Paradigm for Financial Markets by George Soros

Reviewed by Nicholas Kiersey

"Wall Street got drunk," or so says President George W Bush. But blaming America's recent credit crisis on Wall Street and its "fancy financial instruments" is a little too simplistic. For it is an analysis that speaks neither to the radically neo-liberal regulative framework that permitted such instruments to develop nor the insurmountable challenges now facing America's homeowners.

Ironically, for this sort of analysis, we could do worse than turn to George Soros's new book, The New Paradigm for Financial Markets: the Credit Crisis of 2008 and What it Means. A financial speculator, Soros has made and lost more money than most can. He writes, too, and is a sometimes philosopher.