George Soros Lecture on the Way Forward, Part 1

George Soros concludes his week-long lecture series at the Central European University in Budapest discussing the way forward. In this first part he discusses the financial crisis in the context of others that preceded it, and states that while the magnitude of the credit and leverage problem faced today is greater than in the Great Depression, the artificial life support given to the financial system has been successful. However, Soros believes that the recovery may run out of steam, and sees a possibility for a "double-dip" in the next year. See below for a transcript of the lecture.