Quote:
Originally Posted by Kevin8or
Recently completed: The Big Short : Inside the Doomsday Machine by Michael Lewis
4 or 5 stars. Lewis makes it easy to understand complicated financial instruments because he teaches you in small bites as he primarily tells the stories of people. It's also infuriating, because so much that was obviously morally wrong was nonetheless perfectly legal. And still is. Everyone should read this book or a different book with the same theme. There are several that have sold well and received good reviews. We all should understand what happened, why it happened, and why it can happen again if Wall Street isn't re-regulated. Oh, and some kind of accountability for ratings companies: Moody's, S&P, etc. |
I'm reading
The Big Short now - and yes, it's one of those books that just infuriates you while you're reading it. But at the same time explains what was going on.
Just recently finished Lewis'
Boomerang which is much the same thing only about the European financial disaster, starting with Iceland. I'm starting to see that the so-called "Masters of the Universe" are basically greedy little pricks who were too lazy to actually learn how to do anything that would contribute to Society. (The attitude in Iceland was basically that "fishing is hard - banking is actually pretty easy.")
But to decompress a bit, I've just started
The Imperfectionists by Tom Rachman. Just through the first chapter/story but so far it seems promising.