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Aug 17 2010

The Big Short


Bookmarks magazine takes a look at Michael Lewis’s account of the real estate market bubble, a volume entitled The Big Short: Inside the Doomsday Machine.

Michael Lewis has written from the perspective of a financial insider for more than 20 years. His first book, Liar’s Poker, was a warts-and-all account of Wall Street culture in the 1980s, when Lewis worked at the investment bank Salomon Brothers. Everything Lewis has touched since has turned to gold, and The Big Short seems to be another of those books, combining an incendiary, timely topic with the author’s solid, insightful, and witty investigative reporting. Only the Pittsburgh Post-Gazette criticized what it felt was a rush job of writing and a failure to integrate the individual stories. Few readers will care for the message here (despite laugh-out-loud moments of absurdity), but Lewis is a capable guide into the world of CDOs, subprime mortgages, head-in-the-sand investments, inflated egos–and the big short. However, as Entertainment Weekly points at, if you’re only going to read one book on the topic, perhaps this should not be the one.




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