|Publisher:||W W Norton & Co Inc|
|Publish Date:||Feb 2011|
|Number of Pages:||291|
|Shipping Weight (in pounds):||0.55|
|Product in Inches (L x W x H):||5.5 x 8.25 x 1.0|
Michael Lewis was born in New Orleans, Louisiana on October 15, 1960. He received a BA in art history from Princeton University in 1982 and a Masters in Economics from the London School of Economics in 1985. He is a non-fiction author/journalist of mostly financial themes. His books include Liar's Poker, Moneyball: The Art of Winning an Unfair Game, The Blind Side: Evolution of a Game, The Money Culture, and Boomerang.
|Prologue Poltergeist||p. xiii|
|A Secret Origin Story||p. 1|
|In the Land of the Blind||p. 26|
|How Can a Guy Who Can't Speak English Lie?||p. 61|
|How to Harvest a Migrant Worker||p. 85|
|Accidental Capitalists||p. 104|
|Spider-Man at The Venetian||p. 136|
|The Great Treasure Hunt||p. 160|
|The Long Quiet||p. 179|
|A Death of Interest||p. 200|
|Two Men in a Boat||p. 226|
|Epilogue Everything Is Correlated||p. 253|
Versatile best-selling author Lewis (Panic) gives a different take on the 2007-08 credit crisis as he chronicles how a handful of investment managers detected early on the growing bubble in the mortgage bond market and made fortunes betting against it. Lewis is a storyteller, and he weaves the personal stories of these renegades against the inner workings of Wall Street's mortgage-backed securities money machine. He explains in plain language how the industry obscured credit risk by packaging and repackaging low-quality sub prime mortgages into complicated securities that could receive high credit ratings in a process he calls the financial alchemy equivalent of turning lead into gold.
He says investors then looked at little more than the ratings as they bought billions of dollars' worth of these supposedly safe bonds. Lewis turns the crisis into a true financial thriller that screams of Wall Street's greed, recklessness, deceit, incompetence, and hubris.
Verdict: Readers from generalists through specialists will find this fast-paced, engaging account both illuminating and disturbing. Highly recommended.
- Lawrence Maxted, Gannon Univ. Lib., Erie, PA
(c). Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
No one tells a business tale better than Lewis (Liar's Poker), and this narrative from the other side of the 2007-08 financial crisis is no exception. In chronicling the individuals who made money by betting that America's housing bubble would burst, Lewis makes even the most complex financial products and systems comprehensible to general readers. (LJ 4/15/10)
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