Posted on Dec 1, 2010 in Book Reviews
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This book was a recent selection of the Garrett Planning Network Book Club. I would recommend it to anyone who wants to better understand how the subprime mortgage market and its related derivative securities nearly brought the U.S. banking system to the brink of disaster.
“The Big Short” weaves the stories of those who betted against the subprime mortgage market. The author, Michael Lewis, follows several individuals who studied the market from various angles and decided that at some point the bubble was going to burst. Lewis tells us how they identified the...