Wednesday, November 23, 2011

The Big Short by Michael Lewis

Superb telling of the collapse of Wall St. in 2008. Lewis wisely makes it a compelling narrative by following several people who bet against the system. One ends up learning about (and/or confused) by the complexities in the financial market but there is still much to gain even if those parts are not fully absorbed. For example, I don't know exactly what a CDO is, but then again, it turns out almost no one did either! Even those who were buying and selling them!
Lewis certainly makes the case that the American taxpayer got screwed by immoral people who should have known better.
Highly recommended.


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