By Michael Lewis
The genuine tale of the crash begun in weird and wonderful feeder markets the place the sunlight doesn't shine and the SEC doesn't dare, or trouble, to tread: the bond and genuine property by-product markets the place geeks invent impenetrable securities to learn from the distress of reduce- and middle-class american citizens who can't pay their bills. The shrewdpermanent those who understood what was once or can be occurring have been paralyzed via desire and worry; as a minimum, they weren't talking.
Michael Lewis creates a clean, character-driven narrative brimming with indignation and darkish humor, a becoming sequel to his number one bestseller Liar's Poker. Out of a handful of unlikely-really unlikely-heroes, Lewis models a narrative as compelling and weird as any of his past bestsellers, proving once more that he's the best and funniest chronicler of our time.
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Net living has been an asset to his career. His only vice, he says, is fast food, in particular the burger joint Five Guys. “Every time I eat with the guy, I wonder how he’ll make it to the end of his term,” says Trey Gowdy, the South Carolina Republican whom Chaffetz considers his best friend in Congress. Tech companies have taken advantage of the cheap land and educated workforce around Provo. It’s what Chaffetz wishes the rest of the country looked like. As we drive together on a nippy December afternoon a few days after the White House Christmas party, he points out the justopened offices and shopping centers amid the still vacant grassy lots.
In 1897, an MITtrained chemist at Campbell’s invented condensed soup by reducing the water content. Suddenly able to ship its soup more cheaply than its competitors, Campbell’s was selling 16 million cans of soup annually by 1904. ) The original condensed soups—cream of mushroom, tomato and chicken noodle—remain Campbell’s best-selling products. 3 billion in total revenue in 2014—has in a way become a victim of its own success. The same hunger 46 for convenience that popularized meals from a can has driven more Americans to stop cooking altogether.
Job growth in the energy sector eryone along the food chain. Shale regions has been five times the state’s average, says will also take a pounding because of the the Fed. Since 2001, the Barnett Shale play reverse of the multiplier effect. 5 billion in local taxes boom created a housing boom, a hotel while contributing more than $6 billion to boom and a restaurant boom—and a labor the state coffers. shortage that pushed wages ever upward. Of course, oil booms and busts are as The town of Midland in West Texas had the highest per capita income in the nation common to Texas as cowboy hats.