The Big Short: Inside the Doomsday Machine (Hardcover)
Rating
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When the crash of the U. S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesnt shine, and the SEC ......more
When the crash of the U. S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesnt shine, and the SEC doesnt dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who cant pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they werent talking.
The crucial question is this: Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages?Michael Lewis turns the inquiry on its head to create a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 best-selling Liars Poker. Who got it right? he asks. Who saw the real estate market for the black hole it would become, and eventually made billions of dollars from that perception? And what qualities of character made those few persist when their peers and colleagues dismissed them as Chicken Littles? Out of this handful of unlikelyreally unlikelyheroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our times.
- Author:
- Lewis, Michael
- Genre:
- BUSINESS & ECONOMICS / Economic Conditions
- Audience:
- General/trade
- Format:
- Hardcover
- Pages:
- 266
- Language:
- English
- Publisher:
- W W Norton & Co Inc
- Publish Date:
- 03/01/2010
- Copyright Year:
- 2010
- ISBN:
- 9780393072235
- Height:
- 9.5 in
- Wdth:
- 6.5 in
- Thickness:
- 1.0 in
- Unit weight:
- 1.0 lb
- 5 Stars 2
- 4 Stars 0
- 3 Stars 0
- 2 Stars 0
- 1 Stars 0
Most Recent Reviews
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Another Lewis Hit
A well written account of the greed on Wall Street that lead to the financial crisis. As it always is, Lewis's writing is clear and entertaining.
- Would you recommend this to a friend? Yes
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The Big Short
This was a funny and interesting character study of some of the key players who foresaw the sub-prime mortgage melt down. It also showed how little many of the finance experts actually know. I checked at several sites and Overstock was the best price I could find.
- Would you recommend this to a friend? Yes
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