Halloween can be very scary. Why not be frightened reading “The Big Short: Inside the Doomsday Machine”?
This sequel to Michael Lewis’ classic “Liar’s Poker” details the scary collapse of the bond and real estate derivative markets during the housing bubble in the 2000s. Fear the Credit Default Swaps! Run from the Collateralized Debt Obligations! Horrify yourself with the collapse of investment bank Bears Stears! Be terrified reading about Merrill Lynch’s CDO manager Howie Hubler losing $9,000,000,000.00 on a SINGLE TRADE! Scary stuff indeed.