Michael Lewis, author of Liar's Poker and Moneyball chronicles and explains the crash of the US stock market in 2008 and the causes that led to it.

I started reading this and,again, found Lewis an engaging story teller. He explains Wall St. and the stock market in lay terms without condescending. Any one who lost a job, had their home de-valued or lost money in the stock market during the last few years should read this book.

I also like the way he started out his first chapter. Sort of like "hey here's the headsup, better keep up." I really like that about Michael Lewis's books, too. I already know that I'm going to like this book.

Another good read on what leads to recession is William Greider ; Secrets of the Temple , How the Federal
Reserve Runs the Country. A good history of money and politics over the length of the twentieth century,
I think he also presents the pattern and behavior of modern banking in simple form, It may be a good addition to Lewis work.

Alan Greenspan, a disciple of Ayan Rand, led the Reserve for many years said that even he was surprised at the extent of the greed that caused the Depression that we are now supposedly coming out of.

Lewis gives an excellent look into Long Beach Mortgage (division of Washington Mutual) where the whole debacle started. His documentation of AIG is very good. I can't believe some of the shear stupidity that he discloses.

You know, actually I had to look up the Long Beach Mortgage, the Washington Mutual because I didn't quite follow him on that. Used lot's of big words for me, but I think I understand it now.

It's not fast reading, but as Lewis shows, lots of people didn't understand what was going on.

His exposure of the "rating" bureaus is phenomenal. Shows how much more oversight the entire financial arena needs.

What amazes me is the information that he gives. Kind of wonders on how he got that information.
When I get done like reading a chapter I have to sit and think about what I just read and I actually found myself (very unusual for me) going back and re-reading it and and looking at some of the paragraphs again and finally see that that is right on. (Dead on balls is what my mother always says.) Can't believe on how this stuff actually makes sense on what our country is doing.

I like your Mother's attitude. LOL Yes, it does make sense and it is intolerable. I hope the new woman just appointed to keep an eye on financial institutions can make a difference.

I'm with you there!

Which chapter are you on? I want to make sure I'm caught up with you.