Michael Lewis’ latest article “Beware of Greeks Bearing Bonds” dives into the question about whether Greece will default and how it will affect global finance. Appears in the October 2010 issue of Vanity Fair.
Archive for the ‘Finance’ Category
Michael Lewis submitted this satiracal op-ed piece to the NY Times.
Shockingly, the Senate version of the bill more or less would require us to cease to trade derivatives entirely. This unpleasant idea was introduced by Senator Blanche Lincoln of Arkansas, and it leads me to a point that is worth underscoring: We do not have a problem with the American people, we have a problem with American women. Elizabeth Warren, our TARP supervisor, continues to ask questions about what we did with our government money; Mary Schapiro has used her authority at the S.E.C. to sue Goldman Sachs. Of the four Republican senators who crossed over to vote with the Democrats, two were women — and one of the guys posed naked for Cosmopolitan magazine.
Michael Lewis and his new book The Big Short were profiled on NPR’s All Things Considered.
Link to story and audio [8m 59s]
“You have this body of facts out there in the financial world, and the vast majority of the people in that world are organizing the facts into one kind of picture — and it’s a pretty picture. And a handful of other people take the exact same facts, but they organize it into a different picture.”
Vanity Fair is carrying an excerpt of The Big Short: Inside the Doomsday Machine by Michael Lewis, to be published this month by W. W. Norton; © 2010.
Each year, for example, Goldman Sachs might announce a grand national competition, much like “American Idol.” Finalists will appear before a national television audience to be judged by a panel of three rather ordinary looking Goldman executives. On stage they will perform various Wall Street tricks: negotiating with Tim Geithner, lobbying the Senate Banking Committee, designing securities that blow up, selling bonds to Germans, etc.
The winner receives a job at Goldman Sachs.
ML takes a jab at the almighty Goldman Sachs in his latest satirical column on Bloomberg. Tip of the hat to Matt Taibbi’s article in this month’s Rolling Stone about Goldman:
Rumor No. 5: Goldman Sachs is “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”
Those words are of course taken from a recent issue of Rolling Stone magazine and they are transparently false.
For starters, the vampire squid doesn’t feed on human flesh. Ergo, no vampire squid would ever wrap itself around the face of humanity, except by accident. And nothing that happens at Goldman Sachs — nothing that Goldman Sachs thinks, nothing that Goldman Sachs feels, nothing that Goldman Sachs does –ever happens by accident.
August, 2009 Vanity Fair article investigating the implosion of A.I.G., Michael Lewis explains how one of the world’s safest insurers became a reckless juggernaut—and a national target.