Almost a review of three books. Well, not quite almost. Nomatter.
Informed about the world of high finance and rob-your-soul banking? Me neither. Every class I ever took that had anything to do with business, economics or numbers, I bagged as soon as I could and went about living life as it should be lived. (Without numbers!) Anywho.
Here are three worst-writer recommendations–I think. Well, maybe this isn’t really a recommendation.Whatever. Reading at least one of these books might help if you’ve ever wondered what a CDO is or what Subprime is or if you’d like some insight into the mechanics of what has facilitated the fail upwardness of the grand fiat world of finance we are all now slaves to. For me, the questions I’ve been asking are still open. These books only helped me ask a few other questions. Which is good enough. I mean, that is a form of progress. Or? So, like I said, this ain’t much of a recommendation. Nomatter. These books are great.
The Big Short, Michael Lewis
Too Big To Fail, Andrew Ross Sorkin
More Money Than God, Sebastian Mallaby
The Big Short is the second book I’ve read by Lewis, here a post on the first. Lewis is probably the best writer here. The others read more like text-books. I often refer to the index of Too Big To Fail when I need to look up specific terminology or acronyms. Which reminds me. A great website that goes in this direction, plus a bit of political incorrectness, is:
For those interested, the questions I’m still asking (about high finance) are:
Who and what are bond traders? How do they work? Are they any different than slimy car salesman? And for those that lose so much money on their trades, why aren’t their faces posted in all public places as a form of humiliation? Or better yet, in order to help cover their losses, why aren’t dart boards made with their eyeballs as bulls-eye.
If all money is privately held yet claims to be backed by governments (you know that whole “legal tender” thing) then how come I can’t get the same type of backing when I go to Vegas?
What is it that makes humans worship god and money equally subsequently voluntarily subjecting their lives to a new form of slavery and forgetting so quickly how to laugh at their own stupidity in the process?
This one isn’t quite a question but I’m gonna give it a whirl: The answer to the question regarding how to reign-in the wild-west, winner take-all mentality that is world finance is to address how the mechanics of all this high finance functions and then figure out how those who run the machine are compensated.
Or something like that.
- Subprime lending – Wikipedia, the free encyclopedia
- Collateralized debt obligation – Wikipedia, the free encyclopedia
- List of trading losses – Wikipedia, the free encyclopedia