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The Big Short: Inside the Doomsday Machine
Hardcover - English

In this brilliant account of how the U.S. economy has been driven over the cliff, the author of the bestseller "Liar's Poker" explains how the free fall of the American economy occurred and who, exactly, is to blame. ...When the crash of the U. S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn't shine, and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.

The crucial question is this: Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? Michael Lewis turns the inquiry on its head to create a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 best-selling Liar's Poker. Who got it right? he asks. Who saw the real estate market for the black hole it would become, and eventually made billions of dollars from that perception? And what qualities of character made those few persist when their peers and colleagues dismissed them as Chicken Littles? Out of this handful of unlikely--really unlikely--heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our times....Why Michael Lewis, according to Malcolm Gladwell, "is the finest storyteller of our generation"


Liar's Poker

"So memorable and alive. . . . It's one of those rare works that encapsulate and define an era. . . . Remember the 1980s? When you want to recall this roaring decade, pick up a copy of Liar's Poker." --Fortune

"Devastatingly funny." --New York


Moneyball

"The best business book Lewis has written. It may be the best business book anyone has written." --Mark Gerson, The Weekly Standard

"A brilliantly told tale. . . . Michael Lewis's beautiful obsession with the idea of value has once again yielded gold." --Garry Trudeau

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ADDITIONAL INFO

ISBN
0393072231
EAN
9780393072235
Publication Date
15/03/2010
Pages
288
Dimension
23.29cm x 16.10cm x 2.67cm
Age Group
NA to NA
Grades
Not Applicable to Not Applicable
Lexile Level
0
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About Author

Lewis, Michael
Michael Lewis grew up in New Orleans and has degrees from Princeton and the London School of Economics. Formerly a bond salesman with Salomon Brothers, he is the author of the runaway international bestseller, Liar's Poker. He holds an adjunct professorship at the University of California a " Berkeleya (TM)s journalism school and lives in Berkeley with his wife, Tabitha Soren.




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