I really enjoyed Michael Lewis’ book The Big Short about the men who discovered that the bonds with lots of bad mortgages were destined to fail and hence bring on a financial crisis. While the topic is confusing and complex, Lewis does an admirable job of pulling you into the story and making you understand. I appreciated that there weren’t the scantily clad women or bimbos in bathtubs. That wasn’t necessary in the film. (You can see my film review here.)
Lewis did a better job of showing who these men were and what the nature of our financial mess is. I quite enjoyed learning how the two young guys of Cornwall Capital made their fortune and “sitting in” on Lewis’ lunch with his one-time boss whose earlier decision to take a financial firm public rather than a partnership (hence removing responsibility and consequences from a firm) led to the fiasco of 2008.
It’s a book I felt I should read and now want to recommend all my friends read. In fact, I had requests to share it and it’s in the hands of a friend right now.