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The Big Short

by Michael Lewis

A financial crash traced through its obscure markets

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AlbakiReads Editorial

A financial crash traced through its obscure markets

Michael Lewis examines the financial crash through the bond and real-estate derivative markets, where complex securities were tied to debts many lower- and middle-income Americans could not repay. The account connects these often-opaque financial mechanisms to the people who recognized that something was wrong—or might be—and the hesitation that kept them from speaking openly. Its character-driven approach places individual perspectives alongside a broader account of how risk in these markets affected households far removed from their design and trading.

Good fit for readers who enjoy

  • Readers interested in the financial markets behind the crash
  • Readers seeking a character-driven account of economic conditions and debt

Themes

Financial derivatives and real-estate marketsHousehold debt and economic consequencesRisk, knowledge, and silence

Based on publisher information and book metadata.

Book overview

The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't 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 can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.

Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker. Out of a handful of unlikely-really 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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