![]() ![]() For generations, financial markets have traded bonds. While I’d encourage everyone interested to read the book, I’m going to try to summarize the story here.ġ980s-Adding innovation to the boring old bondĪ bond is a promise - usually from a government or corporation - to make regular interest payments on borrowed money, and, eventually, to pay back the borrowed principal. Having watched the events unfold over the course of about a year, and not really understanding everything involved, the tragedy of situation wasn’t quite as impressive to me at the time, as it is having read Lewis’ concise, clear and compressed explanation of it. The Big Short, by Michael Lewis, is an amazing book about the banking crisis of 2008. Get it on Amazon → The Big Short, by Michael Lewis
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