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The Big Short: Inside the Doomsday Machine…
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The Big Short: Inside the Doomsday Machine (2010)

by Michael Lewis, Michael Lewis, Michael Lewis, Michael Lewis

Other authors: See the other authors section.

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» See also 133 mentions

Showing 1-5 of 138 (next | show all)
A good analysis of "the system". Lewis is a superb story teller. The complexity of the euphemisms used by the bankers almost tell the story alone. The indictment by simply giving the facts is pure and meaningful. Economics, from law (the basic rules) to mechanics are all human made. There is nothing of nature in economics, yet, we see the facts, know the effects and unfairness, and ignore it all. Politics is all human too! The common persons need to consider these truths and use our democracy to change law, economics and politics. The epilogue of this book was excellent even if it was all indictment and no solution. ( )
  DonaldPowell | Feb 5, 2019 |
I don't want to write a comprehensive review because I'm sure there are plenty, but it was insightful and gave colorful depictions of the characters involved in the suprime fiasco.

I read this book in less than 3 hours..it's a fast read. ( )
  timjaeger | Jan 7, 2019 |
The author examines the causes of the U.S. stock market crash of 2008 and its relation to overpriced real estate, bad mortgages, shareholder demand for excessive profits, and the growth of toxic derivatives.
  JRCornell | Dec 7, 2018 |
A bit confusing and I even learned about the great recession and its causes when I was in business school, but from what I gather from this book, many professionals in trading and finance don't even understand the market all that well. So I feel better. Entertaining to learn about a handful of people who were being dismissed for thinking Wall Street was wrong and decided to go against what everyone else was doing. Michael Lewis explains the math and industries behind the "bets" but little reminders of what certain aspects were again once it has been awhile and it comes back up would of helped. ( )
  wellreadcatlady | Oct 17, 2018 |
Allows a sneak peak into the institutional investors debt markets.

Something I always wondered about. ( )
  JohnLambrechts | Sep 24, 2018 |
Showing 1-5 of 138 (next | show all)
Thinking about the subprime crisis with the benefit of da Vinci’s distance, it struck me anew how Darwinian and predatory the whole system is. One constantly has to ask, Cui Bono: “Who benefits?” And Ubi Est Mea: “Where’s mine?” One of Eisman’s traders was constantly obsessed with how the party on the other side might screw him (though “screw” was not the word used). That is probably a good attitude to have on Wall Street.
 
By focusing so precisely on the particular, Lewis makes the objects of his scrutiny stand for the whole of the financial world: its obscurantism, under-regulation and wildly short-termist institutional profiteering; the bank bosses’ reluctance to scrutinise the mechanics and risks of their most profitable divisions; and the general refusal to understand the connection between the profits made and the dangerous actuality they were based on: in this case, the deliberately over-complicated financial “instruments” and the poor Americans who were about to default on their mortgages.
 
In his new book, Lewis is neither obnoxious nor charming. The skies have fallen. The market Wall Street created in the housing debt of the very poorest Americans, so-called "sub-prime" mortgage bonds and various derivative securities, which fell to bits in 2007 and all but engulfed the world in 2008, is the greatest financial fraud since the 18th century. Men and women who once made us laugh now make us shudder. In other words, The Big Short is not half the fun of Liar's Poker, but it is more important.
added by mikeg2 | editThe guardian, James Buchan (Mar 27, 2010)
 
Lewis is a gifted chronicler and debunker and demystifier of the world of finance.
added by r.orrison | editBoing Boing, Cory Doctorow (Mar 18, 2010)
 
No one writes with more narrative panache about money and finance than Mr. Lewis, the author of “Liar’s Poker,” that now classic portrait of 1980s Wall Street. His entertaining new book does not attempt a macro view of the financial crisis, but instead proposes to open a small window on the calamities by recounting the stories of some savvy renegades who cashed in on their conviction that the system was rotten.
 

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Author nameRoleType of authorWork?Status
Michael Lewisprimary authorall editionscalculated
Lewis, Michaelmain authorall editionsconfirmed
Lewis, Michaelmain authorall editionsconfirmed
Lewis, Michaelmain authorall editionsconfirmed
Boggs, JesseReadersecondary authorsome editionsconfirmed
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Epigraph
The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea about them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him.  -  Leo Tolstoy
Dedication
For Michael Kinsley, To Whom I Still Owe an Article
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How can a guy who can't speak English lie? - Greg Lippmann
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Amazon.com Product Description (ISBN 0393072231, Hardcover)

The #1 New York Times bestseller: a brilliant account—character-rich and darkly humorous—of how the U.S. economy was driven over the cliff.

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 doesn’t shine, and the SEC doesn’t 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 can’t pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren’t 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 Liar’s 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 unlikely—really unlikely—heroes, 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.

(retrieved from Amazon Thu, 12 Mar 2015 18:18:31 -0400)

(see all 2 descriptions)

The author examines the causes of the U.S. stock market crash of 2008 and its relation to overpriced real estate, bad mortgages, shareholder demand for excessive profits, and the growth of toxic derivatives.

» see all 13 descriptions

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W.W. Norton

2 editions of this book were published by W.W. Norton.

Editions: 0393072231, 0393338827

Penguin Australia

An edition of this book was published by Penguin Australia.

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