Archive for the ‘Compilation’ tag
Michael Lewis on current Wall Street Crisis
The End
Portfolio.com
The funny thing, looking back on it, is how long it took for even someone who predicted the disaster to grasp its root causes. They were learning about this on the fly, shorting the bonds and then trying to figure out what they had done. [FrontPoint Partners' Steve] Eisman knew subprime lenders could be scumbags. What he underestimated was the total unabashed complicity of the upper class of American capitalism. For instance, he knew that the big Wall Street investment banks took huge piles of loans that in and of themselves might be rated BBB, threw them into a trust, carved the trust into tranches, and wound up with 60 percent of the new total being rated AAA.
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Michael Lewis Interview on Fool.com
- Part 1 – On the Financial Panic
- Part 2 – On Wall Street’s Need for Privacy
- Part 3 – On the Hedge Fund Manager Who Saw It Coming
- Complete Audio Interview ( direct mp3 link)
Who is Michael Lewis?
