Michael Lewis talks his (then new) book, The Big Short on C-Span back in 2010: "If I explain this to people, they're going to be outraged.". Watch it here.
Having recently seen the film version of The Big Short in the theater, I've been going back to some of the interviews and source materials from Lewis' book. For those who don't remember (or are too young to recall), Lewis' book examines the real estate bubble and subprime mortgage debacle, which kick-started the 2007-2008 financial crisis and pushed our economy to the brink of collapse.
The book zeroes in on some of the investors and hedge funds that profited greatly from buying credit default swaps (CDS) on subprime bonds, and the banks who took the other side of that bet and crashed. A few years and a few trillion dollars in bailout money later, we're into a major motion picture starring Christian Bale and Steve Carell as said hedge fund managers, but that's a story for next time. Tune in next week for the story behind The Big Short.