Michael Lewis’s “The Big Short”

NEW YORK (GaeaTimes.com)- Michael Lewis’s new book “The Big Short” which is subtitled as ‘Inside the Doomsday Machine” indicates that all was not so well with the flourishing Wall Street money making for the last few years before 2008’s big Wall Street crash, which led to trillions of dollars of loss. Michael Lewis’s new book which he has reportedly said in an interview that he felt was a sequel to his “Liar’s Poker” shows the fault line in the financial system and money making process which led to the quake in the market.

Michael Lewis in “The Big Short” takes a look at the subprime mortgage system which was the root cause of the downfall. The loans were provided by the financial sectors to people who did not possess enough cash source to repay the loan. However, the financial sector took the mortgages to be the fortune which they traded into the market resulting in the ultimate doomsday. However, according to the book, the whole process was based on a complex and confusing mathematical calculation and system which even many top financial executives failed to understand.

That this mad rush in the market for the mortgage will ultimately lead to the huge crash was not anticipated by the Treasury officials or even by the government regulators. However, according to Michael Lewis, it was calculated by some investors who took the opportunity to make huge fortune and “The Big Short” traces the story of some such investors. The book which is published by W.W. Norton & Co. has been priced $27.95. According to many critics, this book too will become a favorite with readers.