The Big Short, Inside the Doomsday Machine
by Michael Lewis, 2010, W. W. Norton & Company, New York
This book is about the the subprime meltdown and the individuals who bet that these securities would default. Lewis does an excellent job of capturing the character and personalities of the individuals involved and what caused them to go against the conventional wisdom of the time.
The book is well written and a quick read, although the language is a bit rough.
As in the case of many other books written about poor business practices in our most vaunted firms, it causes one to wonder just how smart the smartest of us actually are. Maybe what it takes to run a large company well is just a bit of common sense and integrigy, both of which seem to be sorely lacking. Reading about the actions of those individuals who caused this mess makes me really angry. They should all be poor and in jail after what they did to the American people and the economy.
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