The Big Short: mystified and then some by Wall Street | Off Piste

Coverage for Central Oregon, by Central Oregonians.

The Source Weekly has been here for you, keeping you in the know throughout the coronavirus pandemic.

We’ve delivered important updates and dispatches from a summer of racial unrest.

We’ve interviewed dozens of state and local political candidates to help you make an informed decision during election season.

And we’ve brought you 22 years of important news and feature reporting—along with all the events, happenings, food, drink and outdoors coverage you’ve come to know and love. We’re a newspaper for Central Oregon, by Central Oregonians, and it is and always has been free for readers.

If you appreciate our coverage, we invite you to spread the love and to join our growing membership program, Source Insider.
Support Us Here

Friday, May 7, 2010

The Big Short: mystified and then some by Wall Street

Posted By on Fri, May 7, 2010 at 5:53 PM



I usually don’t read books that profile people like Bill Gates, Warren Buffet or some Arab potenate who is rich beyond believe. Nor do I dive into books about finance or Wall Street.


But recently I picked up a copy of Michael Lewis’ “The Big Short”, the tale of how derivatives were created and almost took down the American economy.


It’s a compelling, complex and often murky read. The murkiness comes from the fact that there are so many intricate parts and details to the tale. So many that I think it would take at least two dozen business scholl professors at least twenty years to figure it all out.


Lewis does an admirable job at trying to untangle the  financial web and for those who need help, as I did, go to for a helpful guide through the morass of financial terms.


Most surprising is how Lewis jumped to "The Big Short"from making “The Blind Side” , which could have easily been a typical ready-for-Hollywood rags-to-riches yawner and made it into  a decent read.


As it turns out, Lewis spent several years right out of college working on Wall Street. He went to The Street because he was like so many of his classmates at the time-interested in making a lot of money fast.


Later he became disenchanted with Wall Street and went into journalism. But he retained a keen insight into the financial markets and got close to many people who would play a key part in the eventual rise and crash of derivatives.


In one classic scene in the book, one trader tells another: “I’ll do the trade but only when you tell me how you plan to screw me in this deal.” Bottom line: everyone gets screwed on Wall Street.


“The Big Short” should be required reading for everyone who thinks Wall Street has the answers.

Pin It

Comments (2)

Showing 1-2 of 2

Add a comment

Subscribe to this thread:
Showing 1-2 of 2

Add a comment

Newsletter Signup

Get Central Oregon daily news
directly in your inbox

More by The Source Staff

Latest in Off Piste

  • Can't Wait for the Face-Kini Trend to Hit Bend

    • Aug 20, 2012
      More reasons to slap one of these on, according to The Indian Express is they are,"also extremely effective at repelling insects and jellyfish." Read about even racier Face-Kinis here: http://inventorspot. More »
  • A New Way to Protect That Gorgeous Mug of Yours

    • Aug 20, 2012
    Sick of the claustrophobic greasy cloud of sunscreen, fellow sun bunnies?  It drips into your eyes if you're active and sweating and sometimes has a pasty white sheen, but in Bend sun protection is mandatory.   The other problem is the way it makes you feel like you're being buried alive. More »
  • Bust a Love Move Today

    • Aug 9, 2012
    Long before Gay A. Bradshaw (one of Oregon’s own) put a name on them, trans-species relationships have continued to baffle, challenge, and warm the hearts of non-human animals and humanimals alike. More »
  • More »

© 2020 LAY IT OUT INC | 704 NW GEORGIA AVE, BEND, OREGON 97703  |   Privacy Policy

Website powered by Foundation