Name: The Big Short
ISBN: 9780141043531

Michael Lewis

'We fed the monster until it blew up ...' While Wall Street was busy creating the biggest credit bubble of all time, a few renegade investors saw it was about to burst, bet against the banking system - and made a fortune. From the jungles of the trading floor to the casinos of Las Vegas, this is the outrageous story of the misfits, mavericks and geniuses who, against all odds, made the greatest financial killing in history.

Inside the Doomsday Machine

The Big Short

From the author of The Blind Side and Moneyball, The Big Short tells the story of four outsiders in the world of high-finance who predict the credit and housing bubble collapse before anyone else. The film adaptation by Adam McKay (Anchorman I and II, The Other Guys) features Academy Award® winners Christian Bale, Brad Pitt, Melissa Leo and Marisa Tomei; Academy Award® nominees Steve Carell and Ryan Gosling. When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread. Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? In this fitting sequel to Liar’s Poker, Michael Lewis answers that question in a narrative brimming with indignation and dark humor.

Timeo Williams

Haha, this book was a lot of fun to read. Lots of credit to Michael Lewis for telling the stories behind the people who predicted the market collapsing, in a very entertaining way. I laughed at incredulity at so many parts that it was hard to keep count, and make no mistake, this a finance/business book. 

People to research: Mike Barry, Steve Eisman, Greg Lippmann

Jowanza Joseph

I blame myself for reading this book in 2013.  I've heard all of this information at least twice.  Sadness.

Cams Campbell

I read this after seeing the film and enjoyed it, although I'm still not entirely sure what credit default swaps are. I kinda get it, but it's still somewhat confusing. Totally worth reading though.

Geoffrey Landward

It made me want to vomit. And then I was sad. I loved it.

Omar

This book follows the events of the catastrophic 2008 financial crisis. I give the author most credit for explaining the conditions that triggered the crisis and the many players involved in it. Most interesting to me was learning that there were many people and systems that could have prevented the madness, yet nothing did. While some heavily relied in credit ratings issued by a few agencies, the agencies issuing the ratings didn't understand what they were actually rating. Bank employees deliberately obscured things and, in a system that disproportionately rewarded excessive risk, did just what you would expect. 

Instead of trying to summarize the book I will just say that the book was well-written. If the topic is of interest to you, you should read it. However, the book is designed to make you feel angry about the events that happened, so be prepared for that.

The Big Short Inside the Doomsday Machine