Many of us will remember the 9th of August 2007 – the day many economists mark as the beginning of the most severe financial crisis since the Great Depression: The beginning of the Global Financial Crisis. Predatory lending practices, excessive risk-taking, and the bursting of the US housing bubble culminated in a disaster of historical extent.
Even though all of us experienced the collapse of our economies for ourselves, Micheal Lewis, a former Wall Street bond trader and author of multiple non-fiction books, many of which deal with the world of finance, opens up an unseen perspective. Instead of viewing the years prior from outside, Micheal Lewis’ “The Big Short” guides you through the real-life experiences, actions, and fates of both losers and winners of the financial crisis leading right up to the meltdown of the US housing market.
A character-driven, brutally honest, and incredibly encapturing lecture for anyone, regardless of their background. Being shortlisted for the 2010 Financial Times and Goldman Sachs Business Book of the Year Award, having spent 28 weeks on The New York Times‘ non-fiction bestseller list, and having received the 2011 Robert F. Kennedy Center for Justice and Human Rights Book Award, Micheal Lewis’ “The Big Short” not only entertains but also familiarizes even unversed readers with many of the technical aspects of the financial system in a manner that I could easily understand — making it a must-read for anyone even somewhat interested in the world of finance.
And for anyone favoring 35 mm film, we recommend the award-winning motion picture starring Christian Bale, Brad Pitt, Steve Carell, and Ryan Gosling.
Photo: Radu Marcusu via Unsplash.
Text: Elias Elmi-Sarabi