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The End of an Era on Wall Street


I've been reading Michael Lewis's 1991 book The Money Culture, and during this time Lewis has been coming back into the news with his observations of the latest financial crisis. He just came out with this article titled "The End". The article starts off with him describing how little his famous 1989 book, Liar's Poker, did in changing things on Wall Street:
Somehow that message failed to come across. Six months after Liar’s Poker was published, I was knee-deep in letters from students at Ohio State who wanted to know if I had any other secrets to share about Wall Street. They’d read my book as a how-to manual.

In the two decades since then, I had been waiting for the end of Wall Street.

A recent bank failure also had connections with Liar's Poker. Franklin Bank was closed by regulators on November 7th. As described by this NY Times article it was started less than a decade ago by its chairman, Lewis Ranieri, who invented mortgage backed securities and was featured prominently in Liar's Poker.

So I thought this would be a good time to mention some of Michael Lewis's books. Below are links where you can buy them at Amazon. I'll receive a small referral bonus if you use these links. If you know of other good finance-related books, please leave a comment.

If you are going to buy other stuff at Amazon, please consider using the search box below. I'll also receive a small referral bonus from those purchases. Thanks!
  • Liar's Poker: Rising Through the Wreckage on Wall Street
  • The Money Culture
  • The Real Price of Everything: Rediscovering the Six Classics of Economics
  • Panic: The Story of Modern Financial Insanity
  • Moneyball: The Art of Winning an Unfair Game

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Anonymous   |     |   Comment #1
The unabashed greed that permeates our society is part of a medical syndrome one of the main manifestations of which is deafness.
Anonymous   |     |   Comment #2
Many of our problems stem from an obsession with the so called 'free market'

This is used and abused by every crook to excuse ever more finagling.

When we grow up and decide that we can and must stop thievery in its tracks, at first sighting, then maybe we can avoid continuous calamities.
Anonymous   |     |   Comment #3
You can try "Crash Proof: How to Profit From the Coming Economic Collapse" by Peter Schiff and "Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve" by William Fleckenstein.
Anonymous   |     |   Comment #4
Moneyball is among my all-time favorite books. I believe Michael Lewis is scheduled to appear on Colbert Report tomorrow.

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