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Re: The Big Short by Michael Lewis
I started reading this and,again, found Lewis an engaging story teller. He explains Wall St. and the stock market in lay terms without condescending. Any one who lost a job, had their home de-valued or lost money in the stock market during the last few years should read this book.
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Re: The Big Short by Michael Lewis
I also like the way he started out his first chapter. Sort of like "hey here's the headsup, better keep up." I really like that about Michael Lewis's books, too. I already know that I'm going to like this book.
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Re: The Big Short by Michael Lewis
Another good read on what leads to recession is William Greider ; Secrets of the Temple , How the Federal Reserve Runs the Country. A good history of money and politics over the length of the twentieth century, I think he also presents the pattern and behavior of modern banking in simple form, It may be a good addition to Lewis work.
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Re: The Big Short by Michael Lewis
Alan Greenspan, a disciple of Ayan Rand, led the Reserve for many years said that even he was surprised at the extent of the greed that caused the Depression that we are now supposedly coming out of.
Lewis gives an excellent look into Long Beach Mortgage (division of Washington Mutual) where the whole debacle started. His documentation of AIG is very good. I can't believe some of the shear stupidity that he discloses.
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Re: The Big Short by Michael Lewis
You know, actually I had to look up the Long Beach Mortgage, the Washington Mutual because I didn't quite follow him on that. Used lot's of big words for me, but I think I understand it now.
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Re: The Big Short by Michael Lewis
What amazes me is the information that he gives. Kind of wonders on how he got that information. When I get done like reading a chapter I have to sit and think about what I just read and I actually found myself (very unusual for me) going back and re-reading it and and looking at some of the paragraphs again and finally see that that is right on. (Dead on balls is what my mother always says.) Can't believe on how this stuff actually makes sense on what our country is doing.
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Re: The Big Short by Michael Lewis
I like your Mother's attitude. LOL Yes, it does make sense and it is intolerable. I hope the new woman just appointed to keep an eye on financial institutions can make a difference.
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Re: The Big Short by Michael Lewis
After reading this book, it is amazing to me how many conservatives are now trying to lay the blame for the country's financial crisis on homeowners. Isn't it the American Dream to own a home? And why wouldn't uneducated folks, or even educated folks who didn't understand what was going on with these mortgages, take a loan when they thought that they would be able to make the payments? Who would have guessed (Wall Street obviously didn't) that the economy would collapse and these homeowners would end up out of work?
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Re: The Big Short by Michael Lewis
I use this often whenever I'm talking about politics, religion or anything else and have to thank Spock for it. It's too logical. It makes sense on taking out a loan when they would have made the payments. And I believe that is the problem today in our world. If things are too logical, if they make sense in doing it, then they don't do it. They try to do the illogical way of doing things, and we are stuck in the middle.
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