Liars Poker is a book by Michael Lewis describing his stint at Solomon Brothers and how they single handedly created the Mortgage Bond market in America. Its must read for giving us the hang on how and why did the bonds were created, the personalities behind thos creations and how and why did the game was not stopped.
The big short one can say is a continuation of the first book shown above. Because after the mortagage bonds were created, to increase the income and giagantic profits from mortgage bonds - subprimes were created and how they were sold as CDS and CDO's. And you would know why nobody knew what was inside them.
Both the books present the concepts in very lucid and non technical manner and make you understand how the structured finance in each of the cases worked.
Must reads.
No comments:
Post a Comment