In a natural follow-up to his international bestseller "The Crash of 2008: The New Paradigm for Financial Markets", George Soros reflects on what went wrong with the global economy, and how to get it back on track. The dire economic situation we find ourselves in is not a result of economic forces alone, but of the policies pursued, and not pursued, by world leaders. In this collection of his recent writings on the global financial situation, George Soros presents his views and analysis of key economic policy choices leading up to, during, and following the financial crisis of 2008-2009. Soros explores domestic and international policy choices, like how to manage the (then) potential implosion of Fannie Mae & Freddie Mac; options for "setting a floor" on the collapsing housing market; deploying measures to stem global contagion from the sub-prime crisis; alternative options for bailing out lesser developed countries and why this was vital; how to bring the credit default swap industry under control; the structural problems of European economic management; and, more. "Financial Turmoil in Europe and the United States" elegantly distills the choices at hand, and takes the reader on a journey of real time economic policy work and experimentation. Soros shows that economic outcomes are a result of choices made and paths not taken, and sounds the warning on the dangers of ideologically-based policy making.