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THE NEW PARADIGM FOR FINANCIAL MARKETS: THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS
George Soros
(New York: Public Affairs, 2008), 162 pages.
Soros says that the 2008 credit crisis resulted from the burst of a superbubble. The bubble formed over the last twenty-five years when a series of prevailing trends led to credit expansion with minimal regulations. Since the interaction between a trend and misconception is reflexive, the current crisis is the result of unsustainable trends and misconceptions, Soros says.
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