Like Michel Lewis I worked for a brief time at the Chicago Board of trade. They paid their runners and customer service agents nothing so the traders could make millions from just shifting money around and not really accomplishing anything for the economy. Working on Wall Street in the early eighties Michael Lewis saw and wrote bout his time as a trainee and the scum he had to deal with it in this award winning book from many years ago. This was one of the books that put Michael Lewis out there in the public eye and made him a hero to many aware of the financial scam that is running the United States. these guys are selling off the country to foreigners and our enemies around the world. you catch an early glimpse of this in this book called "Liars Poker'" and Michael lets us know what this card game is and how it pretty much sums up this industry skimping the value of this country and funneling it to their foreign clients and themselves.
Lewis explains the savings and loan debacle from its inception and how this was just one of any methods these Wall Street guys use to help this country lose money. Lewis gives a detailed account on the bond market and the role these financial giants serve in getting buyers and seller together and exploit America in similar fashions colonial powers abused their colonies to enrich themselves and bring down the living standard of outsiders. This is the time period that America joined these third world countries that already had long established their capitalist system with a crony capitalist style and it took a few decades to see the disastrous results that lead to crashes of all sorts. Michael shows us how the white male dominate culture of these firms increased from a more diverse look i the seventies and how the culture evolved to a more greedy psychopathic personality s the people brought in were pretty much all of that mold. An industry filled wit these type of individuals is bound to get corrupt and only look out for their self interests to the detrimental of the rest of the American economy. The policy changes and influence these crazy bastards used on our politicians are a direct result of the situation we find ourselves with a declining country that has been demoralized from assholes running these firms. Finally Michael talks abut how the home mortgage industry transferred loans to bonds and helped lead to the downfall of the housing industry and the most brutal crash yet Wall Street has managed and purposely caused in their long history. This is an excellent first book for people unfamiliar to the author and I encourage those readers to read all of the boos from this great writer named Michael Lewis.
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