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Copyright © 2012 Jaimes Nel
The belly of the Beast
Michael Lewis, author of Liar’s Poker, which chronicled the excesses of 1980’s Wall Street, charts the rise and fall of mortgage backed securities.
Lewis tells the story of derivatives through the growing apocalyptic vision of a small hedge-fund which foresaw it all and profited massively.
I’m a big fan of anything that explains powerful and opaque financial forces through the workings of dead-end sub-prime sales conferences. A closer look at the belly of this beast is hard to find.