Liar's Poker

Very entertaining and relevant book. Lewis tells the story of how Salomon Brothers rose to the peak of the bond trading world and eventually came crashing back down. He offers a great first hand perspective of how mortgages became securitized under Lewie Raineri and how Salomon profited bigtime off them. Lewis touches on many issues that still plague Wall St. today such as greed, over-compensation, complex markets, trader mentality, etc... The first half of the book is exceptionally funny.

I highly recommend that you read Liar's Poker before you read The Big Short. In order to understand Mortgage Backed Securities (MBS) and the problems that they created such as the near collapse of our financial system in 2008/2009, you have to go back to the beginning. Liar's Poker traces the origins of MBS in Solomon Brothers. Michael Lewis is also a very very funny guy. There are a lot of funny stories in there about what happens on the trading floors on Wall Street.

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