Pin It

The Big Short: Inside the Doomsday Machine 

Michael Lewis (WW Norton & Company)

In this compelling look at 2008’s world financial meltdown, The Blind Side author focuses on a few money managers who won big when Wall Street bet wrong. Along with a tale of oddballs battling the system, you get an easy-to-swallow education. “The subprime mortgage market had a special talent for obscuring,” Lewis writes. “Alt-A was just what they called crappy mortgage loans for which they hadn’t even bothered to acquire the proper documents---to verify the borrower’s income, say. ‘A’ was the designation attached to the most creditworthy borrowers; Alt-A, which stood for ‘Alternative A-paper,’ meant an alternative to the most creditworthy, which of course sounds a lot more fishy once it is put that way.” With Wall Street woes still in today’s headlines, this book is required reading.

Support The Coast

At a time when the city needs local coverage more than ever, we’re asking for your help to support independent journalism. We are committed as always to providing free access to readers, particularly as we confront the impact of COVID-19 in Halifax and beyond.

Read more about the work we do here, or consider making a donation. Thank you for your support!

Pin It


Subscribe to this thread:

Add a comment

Get more Halifax

Our Thursday email gets you caught up with The Coast. Sign up and go deep on Halifax.

Coast Top Ten

© 2021 Coast Publishing Ltd.