Great book, and fun to read, like all of Lewis’ books. Absolutely, 100% infuriating to read, as so many of the people involved in the financial system collapse were idiots at best and criminal at worst – but of course they took home big paydays. I really recommend this book — it was easier to read than Sorkin’s Too Big to Fail, which was good, but ultimately a little too chatty. While Sorkin’s book focused mostly on the heads of the banks, Lewis instead focused on the guys on the outside who figured out early how busted the markets were and who were able to take out big bets against the system. They were all, by definition, outsiders and misfits — and ultimately while they made the situation worse, they weren’t really fundamentally responsible.
Anyway, everyone should understand what this book is about, and how profoundly we were let down by those in positions of power, again & again.
Matt Taibbi’s version of this is pretty readable too, though I suspect materially more strident (haven’t read Big Short yet).