The Big Short By Michael Lewis - 1733 Words

When you think of societal importance, we tend to think of how something will affect the social order of society. After reading all three of the books, it was challenging to choose just one of them to write about. Each one played its own part of significance from women’s rights, to economic tragedy, and exploring the universe. Considering all three of these books were well crafted, THE BIG SHORT by Michael Lewis reflects a template of our community. By showing what can happen if we continue to let the financial system run wild, then showing how it will impact us as an economy like it did in 2008. Two main factors that can be taken away from the reading are: Economy and the way of living. The overall resources that contribute to our successful growth help our economy positively. In the 2008 crisis fortunes were lost due to big banks greediness sending our economy into recession. â€Å"’In 2008 it was the entire financial system that was at risk. We were still short. But you don’t want the system to crash. Its sort of like the floods are about to happen and you’re Noah. You’re on the ark. Yea, you’re ok. But you are not happy looking out at the flood. That’s not a happy moment for Noah’† (Lewis 227). Our economy is everything around us, what we live in, see, breathe, feel, explore, and enjoy. Once that goes away or starts to diminish, that’s when we need to review our financial strategies to create a positive change. So events like the loss of jobs, homes, and communities that wereShow MoreRelatedThe Big Short By Michael Lewis1495 Words   |  6 Pagesthese books were well crafted, THE BIG SHORT by Michael Lewis reflects a template of our community. By showing what can happen if we continue to let the financial system run wild, then showing how it will impact us as an economy like it did in 2008. Two main factors that can be taken away from the book are: Economy and the way of living. The overall resources that contribute to our successful growth defines our economy. In the 2008 crisis fortunes were lost due to big banks greediness sending our economyRead MoreMichael Lewis, The Big Short, And Boomerang1507 Words   |  7 PagesMichael Lewis is the author of many published books on various subjects, and many of them are New York Times best sellers. His most recent work has as main subject 2008 global financial crisis and includes following books: â€Å"Flash Boys†, â€Å"The Big Short†, and â€Å"Boomerang†. Michael Lewis was born in New Orleans, Louisiana. He received a BA in art history from Princeton University and an MSc in economics from the London School of Economics. He worked for three years as an investment banker for SalomonRead MoreReading And Reflecting On Michael Lewis The Big Short1140 Words   |  5 PagesReading 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 whatRead MoreThe Big Short : Inside The Doomsday Machine By Michael Lewis Essay1709 Words   |  7 PagesThe Big Short â€Å"It ain t what you don t know that gets you into trouble. It s what you know for sure that just ain t so† – Mark Twain [1]. As children we are taught to look both ways before crossing the street because something can be approaching at either side, as adults we have yet to learn to look to the past and then back to the present to prevent ourselves from causing the same economic mistakes. It is no secret of mine, that I have the strong notion that majority of our American societyRead MoreAnalysis Of The Article The Mansion By Michael Lewis845 Words   |  4 Pagesa week. In another writing titled â€Å"The Mansion†, written by Michael Lewis, allows the reader to get insight on what life is like as a middle class individual taking on a higher style of living. Within the two articles the reader can point out that both Jon Ronson and Michael Lewis disagree on living styles, what wealth can do for you, and how it can affect the people around you. In both pieces, author Jon Ronson and author Michael Lewis have two different perceptions on living styles. In Ronson’sRead MoreLiars Poker Analysis1231 Words   |  5 PagesLiar’s Poker Analysis The book Liar’s Poker begins with Michael Lewis, the author saying Wall Street,† reads the sinister old gag, is a street with a river at one end and a graveyard at the other.† This quote, symbolizing competitiveness, refers to the river as growth and prosperity and the graveyard as death in a company proves to be the fundamental principle that led Michael Lewis to write this book. The book portrays Michael Lewis’ time with Salomon Brothers (SB), the largest bond dealer inRead MoreThe Worst Recession Since The Great Depression1347 Words   |  6 PagesWhere do you begin with covering one of the greatest economic crash of our time, and the worst recession since the Great Depression? Michael Lewis takes us to the very beginning, covering the story of how cynical mortgage brokers and CDO managers were playing fraudulent roulette. A rigged system that was doomed from the beginning but that very well needed every piece to be in place for 2008 to happen. Credit r ating agencies SP and Moody’s had to be completely oblivious in properly rating the CDORead MoreSticks and Stones.912 Words   |  4 PagesStones† where Lewis is wondering what would had happened if his mother and the headmaster had done something before it was too late. In â€Å"Sticks and Stones† the agent ‘flashback’ is used repeatedly. Mostly to show the reader why Lewis is, whom he is at this point of his life, and to show why he has not been able to go on with his life. It is furthermore to show how the traumas have shaped the boy into an obsessed man. The flashbacks are used to make the reader almost feel the pain that Lewis felt byRead MoreAnalysis Of Inside The Doomsday Machine By Michael Lewis1915 Words   |  8 Pagespurpose of this assignment was to choose one and summarize its view of the crisis. I chose to read and evaluate The Big Short: Inside the Doomsday Machine written by financial journalist Michael Lewis. Michael Lewis graduated from Princeton with a B.A. in art history; his first job was with art dealer Daniel Wildenstein as a stock boy in Wildenstein and Co.’s New York office. Lewis left this job for two reasons: the low pay and to follow his then girlfriend and first wife Diane de Cordova. StrugglingRead MoreAnalysis Of Michael Lewiss Liar Poker 1467 Words   |  6 PagesFinancial journalist and New York Times best seller, Michael Lewis is the author of many published books on various subjects ranging from politics to Wall Street. 2008 global financial meltdown with the build-up the housing and credit bubble during the 2000s are the main topics of some of his best sellers’ books: â€Å"Flash Boys†, â€Å"The Big Short†, and â€Å"Boomerang†. Rare storyteller’s ability to make the virtually any subject, lucid and compelling is the main reason of his popularity. He received an MSc