I made two major discoveries in the course of writing: one is a reflexive connection between credit and collateral; the other is a reflexive relation… - George Soros

President Bush has shown that he is incapable of recognizing his mistakes. He insists on making reality conform to his beliefs even at the cost of deceiving himself and deliberately deceiving the public. There is something appealing in the strength of his faith, especially in our troubled time. But the cost is too high. By putting our faith in a President who cannot admit his mistakes we commit ourselves to the wrong policies.

The invasion of Afghanistan was justified: that was where Osama bin Laden lived and al Qaeda had its training camps. The invasion of Iraq was not similarly justified.

I have devoted half my fortune and most of my energies in the last 15 years to promoting the values of democracy and open society all over the world, especially in the former Soviet Empire. After 9/11 I came to feel that those principles need to be defended at home.