Wednesday, April 21, 2010

The Big Short


If you are looking for an amusing, easy to read account about the massive bets surrounding the sub-prime mortgage market, I strongly recommend Michael Lewis' The Big Short. What's so good about his writing is that he gets inside the characters of the players involved: the quirky fund managers hanging on to their conviction that everything will go horribly wrong; the clueless bankers driven by the prospect of big bonuses as long as they can continue to churn out CDOs in massive volumes; and, worst of all, the terrible ratings agencies who sanctioned the bonds as being perfectly palatable without investigating their toxic elements. Michael Lewis is a master at engaging his reader. I remember reading The New New Thing on a plane to San Francisco, but that's another story.

5 Comments:

Blogger Angus said...

Ah, the rating agencies. Gods amongst men.

2:56 pm  
Blogger Welshcakes Limoncello said...

Sounds interesting.

10:24 pm  
Blogger kinglear said...

Angus - or tripe amongst soup - as they say in Romania

5:17 pm  
Blogger Ellee Seymour said...

I like the cover.

4:43 pm  
Blogger Winchester whisperer said...

Tripe amongst soup - love it! Could be a LibDem slogan...

7:48 am  

Post a Comment

<< Home