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The Big Short

Inside the Doomsday Machine
Feb 19, 2017michaelbritt rated this title 4 out of 5 stars
This book is a roller coaster and a train wreck in the same ride. You'll be amused, sad, angry, discombobulated, scared and many times all at once. Lewis does a great job of moving the story along as well as explaining CDSs, CDOs, the system that is investment banking and gambling and through his main participants the flaws, greed, lack of oversight and outright fraud perpetrated against the American public. It's all too simple to blame the main characters on whom he focuses as being villains in all this. If it wasn't these guys figuring it out and taking advantage of the house of cards that was sub-prime mortgage bonds, than it would have been others. Ultimately, their bets against the system showed everyone that the emperor had no clothes. It was clear that they had tried to warn people of the issue but they didn't understand it or didn't want to consider the calamity that might ensue should it be true. I'd highly recommend this be read by anyone who wants to understand why their house lost value, their 401K lost value, whole housing developments were deserted and especially how dangerously close we are to letting it all happen again with a White House that comes from Wall Street.