When the crash of the US stock market became public knowledge in the fall of 2008, it was already old news. The real story of the crash began the previous year in bizarre feeder markets where the sun doesnât shine and the SEC doesnât dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower and middle-class Americans who canât pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they werenât talking.
Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liarâs Poker. Out of a handful of unlikely heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our time.
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