The Big Short-Inside the Doomsday Machine-Book Review

About the Author

Michael Lewis is an American contemporary non-fiction author and financial journalist. He has authored more than a dozen bestsellers, The Big Short: Inside the Doomsday Machine, Liar's Poker, Money Ball, The Blind Side and The New New Thing to name a few. He has also published many articles. A contributing editor to Vanity Fair, Lewis has worked for The New York Times magazine, as a columnist for Bloomberg and a visiting fellow at the University of California, Berkeley.

The Book

Narrative flamboyance, a rarity among writers, is found in abundance in this book. The story of Wall Street crash in 2008 could not have been put forth with more clarity and humor than by Michael Lewis. The Big Short details the current economic crisis in the US in a lucid manner. In this sequel to 'Liar's Poker', Lewis clearly points out the reasons for the current downturn of the economy and the perpetrators of the financial crisis.


The most crucial part of this book is his documentation of a few people like Michael Burry who knew the crash coming and made huge profits. These investors believed that the sub prime mortgages were useless and discovered new tools like credit default swaps and the ABX index. By these tactics, they were handsomely rewarded leaving the lower and middle class Americans in the lurch. Lewis explains in his impressive style, how they made their decisions and amassed profits much to the others' disbelief.


In short, The Big Short is a very informative and entertaining book. The unique perspective of Lewis's knowledge of the industry and his writing style have made this book a big hit. Happy reading!

The Big Short: Inside the Doomsday Machine
The Big Short: Inside the Doomsday Machine

Michael Lewis,an American non-fiction author narrates the story of the Wall Street crash of 2008 in a very clear and lucid manner in this book. He gives the main reasons for the down slide of the US economy and the people responsible for ruining middle class Americans' life.

 

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Comments 8 comments

crystolite profile image

crystolite 5 years ago from Houston TX

Excellent article that is well shared.


remaniki profile image

remaniki 5 years ago from Chennai, India Author

Thanks very much crystolite for the positive feedback. Cheers

Rema


dahoglund profile image

dahoglund 5 years ago from Wisconsin Rapids

But does he tell of the role of politicians like Barney Frank?


remaniki profile image

remaniki 5 years ago from Chennai, India Author

Barney Frank did a few things that were unethical:turned a blind eye to the happenings at the mortgage companies, insisted that Fannie Mae and Freddie Mac were in good shape and blamed everything on the private sector. The sad part is that government mismanagement has been very evident in the financial crisis that broke out that left millions of middle class Americans in the lurch.


PegCole17 profile image

PegCole17 5 years ago from Dallas, Texas

Sounds like an interesting read. My friend lost her job in subprime lending as an underwriter when she refused to pass through loans where she found misrepresentations of income and employment. They put someone into her position who would. The mismanagement did leave millions of people in the lurch, including her.


kenneth avery profile image

kenneth avery 5 years ago from Hamilton, Alabama

Great hub. Well-written. Loved it all.


remaniki profile image

remaniki 5 years ago from Chennai, India Author

Thanks Kenneth for the nice comment. Cheers

Rema


Alexander 4 years ago

Hi, between chapter 7 and the end does lewis gives any evidence or explanation in how the crisis occured. Like how CDOs, credit default swaps and housing bubble that contributed in the first 2?

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