George Soros about the global capital meltdown

[bonito]

http://www.pbs.org/moyers/journal/10102008/watch.html?ref=reddit

BILL MOYERS:But how does the system become deranged like that? So separated from reality like an individual who goes insane because he or she is separated.

GEORGE SOROS:Well sometimes we get carried away. I mean, you know, let's say in the Middle Ages, people were religious. And so they had tremendous discussions about how many angels can dance on the eye of a needle. Now, if you believe that angels can dance then that's a legitimate question. And this is exactly what has happened here. You thought that you could slice and dice and engage in this kind of financial engineering. And it became very, very sophisticated and got carried away.

[elleng]

1. Excellent, informative dialogue;

I posted it elsewhere here, hoping that lots would see and learn from it.

[flamingdem]

2. Soros is a cool dem

maybe we can borrow some money from him?

[TahitiNut]

3. That was an excellent, sane, and informative interview. Soros has his feet on the ground.

Absolutely every observation was (imho) on-target.

[pam4water]

4. Glad

I was so glad to here anybody on TV call the bail out plan for the complete fail it was. Now if that could only get in to the MSM. And we could could get someone other Hank Paulson to administer it and we could get the bankruptcy laws back to the way they were before for the 2005 de-forms and cancel the CDS market and up the FDIC fees so they could really cover 250,000 size deposits and spot pouring good money after bad in AIG and maybe get a time machine we'd be all set.

[Dover]

5. How many angels?....Well that depends on the size of the needle of course.

:P

Thanks for posting this transcript. I was going to post it in conjunction with my post below in this forum, about Soros and the Skinny Cows theory (the article is from 1999). He was talking about this then and now the 'cows' have come home to roost.