|# of Units:||8 CDs|
|Length:||9 hours, 30 minutes|
|Tell Your Friends:|
This is a fascinating book, and sheds a lot of light on the financial meltdown.
Michael Lewis has the most remarkable talent for breaking down part of a virtually impenetrable system (investment banking) into threads that can be followed as they are knit and then unraveled. I won't say it "makes sense," as the whole point of this book is to say that none of what led to the housing bubble and subsequent collapse of the market (or any Ponzi scheme, for that matter) "makes sense" to any rational person. One begins to understand why very few understand the market these days and why even regulators and legislators can't seem to get their acts together. It's discomforting. It makes one think twice about trusting one's paycheck and savings to banks. The angst this book causes the reader is precisely why everyone should read it.
I constantly wanted to hear this book. It was fantastic to hear how we got into this terrible economic mess and the mix of people who made a fortune predicting it. I think I'm still mad at those how created the problem and that they were rewarded and not punished!!!
I don't pretend to know how big finance works. I have no idea how the likes of Goldman Sachs et al does business or make their money. This book did not help educate me at all on these things. What it does do, and this is important, is to show how complex, enigmatic, uncontrolled, unregulated and unsupervised our economic system is. Immense and dominating monetary power is in the hands of a relatively few firms and in 2008 they brought the system to its knees. This will happen again; it's just a matter of time.
"Michael Lewis is the author of several books, including the international bestseller Liar's Poker. He is a contributing editor of The New York Times Magazine, a columnist for Bloomberg News, and a fellow at the University of California-Berkeley. He lives in Berkeley with his wife, Tabitha Soren, and their newborn daughter."