![]() Although Meredith Whitney was an exception as it was able to foresee a possible collapse of the Citigroup. According to Lewis, none of the participants in the market was capable of seeing such a thing. These firms included American International Group Inc. Lewis’ explanation and evidence are clearly seen through the failure of the big firms to withstand the crunch. if you want to know how a nation lost it financial mind - and have a good laugh finding out - this is the book to read SUNDAY TIMES From the jungles of the trading floor to the casinos of Las Vegas, The Big Short tells the outrageous story of the misfits, renegades and visionaries who saw that the biggest credit bubble of all time was. The saving of the collapsing market by the United States government led to increase in the taxes charged to the citizens thus leading to a very high debt that led to the recession later in 2000s. In the hands of Michael Lewis, anything is possible. He further explains how the agencies used flawed ratings to market the risky assets, thus leading to an avalanche of CDOs. ![]() Adam McKay on The Big Short In this chat with Vulture, Adam McKay, the director of the film adaptation of The Big Short, talks about the production process of the film. He explains how the Wall Street contributed to the failure of the market through the creation of risky mortgages to earn more profits. Michael Lewis with Conan OBrien As a part of his Serious Jibber-Jabber series, Conan OBrien has a very long, very serious conversation with Michael Lewis. Lewis presents various evidences to support his claims. The analysis by Lewis on collaterized debt obligation (CDO) is vital in determination of mortgages and the market finances. The loses suffered were $300, $9 and $99 respectively. These investors were Merrill, Howie Hubler and Cassano. Lewis also uses financial evidence and summaries of the investors that happened to suffer the highest losses due to the crashing of the market. They were also affected positively or negatively by crashing of the market which happened because some of them, like Cornwall were, able to make huge gains due to the crashing while others, like Meredith Whitney, were the ones who predicted the collapse of the giant Citigroup. These people, in one way or another, contributed to the bubble or to the burst up. In his analysis, he features the Meredith Whitney, Cornwall Capita and Burry. When analyzing the evidence involved in the credit bubble and the eventual burst up, Lewis features the lifestyles of some of the biggest fans, analysts and spectators of the bubble.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |