The Big Short

[Dad]

Just finished "The Big Short" by Michael Lewis. This is the story of the collapse of Wall Street and the subprime mortgage market as seen through the eyes of a few participants who saw the fallacy. The author previously wrote "Liars Poker", the story about John Gottfreund and Solomon Bros. He is a very witty guy and can write in a manner that keeps a dry and not at all funny subject at times amusing. He also explains very complicated issues and explains them in an amazingly simple way. If you ever wondered what a CDO or CDS are, this is a good book to read.

[VA Pete]

I have not read the book yet (it's on my list), but I've seen the author on Bloomberg numerous times. He understands the crisis and how to describe it to people who don't work in finance better than just about anyone I've seen. If it were up to me, I would throw the Dodd bill in the trash, have Mr. Lewis submit his top 10 list of things that need to be fixed with the financial system, and start from there.

Here's a clip of one of the Bloomberg interviews: http://www.youtube.com/watch?v=eE9o-9LKvSQ