From the Washington Post:
If you read only one book about the causes of the recent financial crisis, let it be Michael Lewis's, "The Big Short." That's not because Lewis has put together the most comprehensive or authoritative analysis of all the misdeeds and misjudgments and missed signals that led to the biggest credit bubble the world has known. What makes his account so accessible is that he tells it through the eyes of the managers of three small hedge funds and a Deutsche Bank bond salesman, none of whom you've ever heard of. All, however, were among the first to see the folly and fraud behind the subprime fiasco, and to find ways to bet against it when everyone else thought them crazy... read more here.
It's a dizzying tale, all the more crazy because it's true. I'm puzzled by the idea that Repubs are so greedy -- they are the problem. How can anyone who works in NYC finance think ONLY the repubs are greedy? Nearly all Wall Streeters are Ivy League grads, and those schools are 95% Democrat. "Greedy Republicans" just fits their narrative.
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