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The Big Short: Inside the Doomsday Machine by Michael Lewis

Author Michael Lewis in his book The Big Short: Inside the Doomsday Machine (2011) narrates his experience as a Wall Street insider for a time period spanning over 20 years highlighting fallacies of newer financial products like subprime mortgages, collateralized bond obligations (CDOs), credit default swaps (CDS) introduced by financial houses starting from the 1980s and popularized vigorously during the 1990s and the first decade of this century in the run up to a terrible economic recession beginning 2008. More importantly, Lewis takes through the Wall Street culture of refusing to handle or admit a problem. Read More …

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