Soros: False ideology at the heart of the financial crisis

It's been a while since I've updated the blog, but expect more updates going forward (7-10 links a week). I had been busy with wedding planning and am now catching up on reading, so hopefully this weekend you'll start seeing a deluge of posts.

George Soros had an interesting column in today's Financial Times. See the article here.

Essentially Soros argues that the Fed (and other market-related government organizations) have held a belief that the markets will naturally self correct for things like asset bubbles, liquidity issues, etc. While these government orgs may believe that the market has a way of playing itself out, it is interesting then that the Fed has been intervening to prevent perceived market crises. This intervention (and perhaps the belief from market participants that somebody will intervene if the market goes south) may be fueling the excessive credit environment and moral hazards that brought us to where we are today.