MUST READ!!!!
The big short by Michael Lewis delves into the year before the housing crash of 2008. The entire country was drunk on easy money and a market that fueled itself.
People with no business owning a house were given loans and more loans keep this market alive.
Wall Street repackaged this mortgages and deceitfully sold people junk as risk free commodities.
Wall Street got too good at its own game and lost big time.
The book kept you on your feet. Michael Lewis paints this picture of a rigged wall street yet follows the story of a small time hedge fund against the big banks. With millions of dollars on the line, I kept reading and wanting to know, even though these guys should win, can they beat a rigged system?
The story also discusses the collapse and the drama that proceeded once the party was over.
The part of Wall Street that erks me is that even when people fail, they get rich. CEO's run their businesses into the ground and fly out on golden parachutes. That's a load of trash.
A must read for a broad and dark look into the financial markets in America.
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