Financial author Michael Lewis, formerly from Salomon Brothers, writes about the build-up of the housing and credit bubble during the 2000s.  This situation was used by some to create the credit default swap market that sought to bet against the bubble and thus ended up profiting from the financial crisis of 2007–2010.

The book not only describes the situation but also describes the people involved in it, like Steve Eisman, Greg Lipmann and many others who profited from this, as well as the ones who lost billions, like Wing Chau, Howie Hubler and Joseph Cassano.

Lewis’ book was shortlisted for the 2010 Financial Times and Goldman Sachs Business Book of the Year Award and spent 28 weeks on the New York Times non-fiction bestseller list.

By: PetroMarine Energy Services LTD.

Advertisements