Reading And Reflecting On Michael Lewis ' The Big Short

1140 Words May 6th, 2015 5 Pages
Reading and Reflecting on Michael Lewis’ The Big Short

For Commercial Bank Management class I read The Big Short and reflected on its contents. In this paper, I will describe my reading of the book and show how it relates to this class. I devoted about a week to this project—reading, reflecting and writing. During this activity, I kept notes on what I was reading so that I could better understand exactly what happened in terms of concepts like collateralized debt obligations, etc. But what most interested me about this activity was the human element of the story.
Lewis begins The Big Short by telling the story of Meredith Whitney, whose expose on Citigroup in 2007 began a series of Wall Street unraveling. Lewis contacted her to find out what kind of person it was who had fired the shot so succinctly: she was no one special—a graduate of Brown University, who earned a degree without having really learned anything. She credited whatever success she had now to one man, her mentor at Oppenheimer and Co., Steve Eisman—another nobody (by political standards)—but a man, who, “helped her to establish not merely a career but a worldview” (xvii). That latter part is significant—for it is what is most lacking in the world today. A man’s worldview will define his actions and who he is. The worldview of Wall Street and the government that has been in its back pocket for the past thirty years has begun and ended right there: with Wall Street. Witness the evolution of…

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