What Works For Germany Can't

When I Had Made More Money Than I Needed For Myself And My Family, I Set Up A Foundation To Promote The Values And Principles Of A Free And Open Society.

Unfortunately, The More Complex The System, The Greater The Room For Error.

Outperforming The Market With Low Volatility On A Consistent Basis Is An Impossibility. I Outperformed The Market For 30-odd Years, But Not With Low Volatility.

The Lower Interest Rates Fueled Housing And Consumption Booms In Countries Such As Spain And Ireland. At The Same Time, Germany, Struggling With The Burdens Of Reunification, Tightened Its Belt And Became More Competitive. All This Led To A Wide Divergence In Economic Performance. Europe Became Divided Into Creditor And Debtor Countries.

I Passionately Disagreed With Treasury Secretary Hank Paulson's Plan To Bail Out The Banks By Using A Public Fund Called The Troubled Asset Relief Program (tarp) To Help Banks Take Toxic Assets Off Their Balance Sheets. I Argued That It Would Be Much Better To Put The Money Where The Hole Was And Replenish The Equity Of The Banks Themselves.