Deep Currents

The author of Liar’s Poker has a great piece simply titled “The End” over at Portfolio.com that tells the fall of Wall Street through the eyes of the insiders who saw it happening. One great quote:

I thought I was writing a period piece about the 1980s in America… What I didn’t expect was that any future reader would look on my experience and say, “How quaint.”

They were learning about this on the fly, shorting the bonds and then trying to figure out what they had done. Eisman knew subprime lenders could be scumbags. What he underestimated was the total unabashed complicity of the upper class of American capitalism.

Written: November 14th, 2008