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The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker.
Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street’s premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush. Liar’s Poker is the culmination of those heady, frenzied years—a behind-the-scenes look at a unique and turbulent time in American business. From the frat-boy camaraderie of the forty-first-floor trading room to the killer instinct that made ambitious young men gamble everything on a high-stakes game of bluffing and deception, here is Michael Lewis’s knowing and hilarious insider’s account of an unprecedented era of greed, gluttony, and outrageous fortune.
Genesis of the 2008 financial meltdown
After reading The Big Short (excellent book) by the same author, I decided to read this one, which was originally published in 1989. The author provides an insider's glimpse of the Salomon Brothers trading house and their involvement in creating and subsequently losing control of the mortgage bond market. Anyone interested in learning more about what caused the current financial crisis should definitely check out both books. They tell the stories from the players' point of view and read more like novels rather than dry books about the financial market.
I picked up this book without having seen the publish date or knowing anything about it. An entertaining and informative book on Wall Street +20 years ago. Worth reading, if only to widen your scope on the recent crisis.
If you like the subject don't think twice, just read it. The author is excellent and keeps story real and moving. Fast read too.
- Category: Biographies & Memoirs
- Published: Mar 15, 2010
- Publisher: W. W. Norton & Company
- Seller: W. W. Norton
- Print Length: 256 Pages
- Language: English