Michael Lewis just wrote an interesting article for Portfolio magazine detailing the “End” of Wall Street as we know it. In his typical style, Lewis details the crash of the market and the onset of the credit crisis by chronicling the path of Steve Eisman:
There’s a long list of people who now say they saw it coming all along but a far shorter one of people who actually did. Of those, even fewer had the nerve to bet on their vision. It’s not easy to stand apart from mass hysteria—to believe that most of what’s in the financial news is wrong or distorted, to believe that most important financial people are either lying or deluded—without actually being insane. A handful of people had been inside the black box, understood how it worked, and bet on it blowing up. Whitney rattled off a list with a half-dozen names on it. At the top was Steve Eisman.
If you’re a fan of Liar’s poker, or are just interested in a fun and interesting view of how this all happened, I highly recommend the article.
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