Kevin's Reviews > The Big Short: Inside the Doomsday Machine
The Big Short: Inside the Doomsday Machine
by
by

"Michael Lewis creates a fresh, character-driven narrative...", great, sounds like this could be made into a fresh, character-driven Hollywood blockbuster, oh wait... This was supposed to be some investigative revelation on Wall Street criminality behind the 2008 Financial Crisis, but reads like a PR campaign to portray the Financial giants as benevolent (at worst, incompetent), where a few individual hedge-fund geniuses calculated the pending crisis in some Matrix of complexity! Good one, Michael Lewis should work for Hillary Clinton's PR team!
Seriously, who lobbies to write the corporate practices and regulatory "loop-holes" to begin with?! Who has politicians in their deep pockets so criminal charges are not a concern, a retirement golden parachute is at the ready, and a public bailout is guaranteed?!
This is an appalling way to treat the post-crisis opportunity of having an engaged public ready to learn what really goes on in the monoliths of the parasitic FIRE sectors (Finance, Insurance, Real Estate).
This book is not be overtly pro-Wall Street because more-nuanced propaganda is required. It attracts the concerned general public, portrays itself as critical while masterfully re-contextualizing the events that occurred, and diverts attention from systemic causes, culprits, and solutions. I find Lewis' PR stunt more subtle in this book than in his "Boomerang: Travels in the New Third World".
To make this review more constructive, try the following:
1) General public:
-Matt Taibbi's "Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America"
-interviews by David Graeber, Steve Keen
2) More advanced:
-Michael Hudson's work on debt bondage, financial bubbles, and financial imperialism
Seriously, who lobbies to write the corporate practices and regulatory "loop-holes" to begin with?! Who has politicians in their deep pockets so criminal charges are not a concern, a retirement golden parachute is at the ready, and a public bailout is guaranteed?!
This is an appalling way to treat the post-crisis opportunity of having an engaged public ready to learn what really goes on in the monoliths of the parasitic FIRE sectors (Finance, Insurance, Real Estate).
This book is not be overtly pro-Wall Street because more-nuanced propaganda is required. It attracts the concerned general public, portrays itself as critical while masterfully re-contextualizing the events that occurred, and diverts attention from systemic causes, culprits, and solutions. I find Lewis' PR stunt more subtle in this book than in his "Boomerang: Travels in the New Third World".
To make this review more constructive, try the following:
1) General public:
-Matt Taibbi's "Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America"
-interviews by David Graeber, Steve Keen
2) More advanced:
-Michael Hudson's work on debt bondage, financial bubbles, and financial imperialism
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Reading Progress
Finished Reading
September 28, 2014
– Shelved