The Big Short By Michael Lewis New Adult Nonfiction 330.973 L
Michael Lewis, author of The Blind Side, Moneyball, and Liar’s Poker revisits the topic that began his writing career, Wall Street. In The Big Short Lewis explores the collapse of the U.S. financial system in 2008 from the viewpoint of those who saw it coming and profited from it. Lewis does an excellent job at detailing the technical aspect of the financial systems woes that revolved around the creation of exotic financial instruments that consisted of bonds created from home mortgages. Those who saw this collapse coming for years included a lawyer turned financial analyst, an Asperger’s stricken neurologist turned money manager with one glass eye, and an obnoxious Deutsche Bank bond trader. Their various interactions with large U.S. and European banks make for great reading as both sides think they are getting over on the other. In the end, the biggest losers turn out to be the bondholders, stockholders, homeowners, and taxpayers stuck with the bill from these outrageous gambles. This is an excellent addition to the growing literature on our country’s financial system collapse.
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