The End

This article by Michael Lewis, the author of Liar's Poker and Moneyball, provides some perspective on the current carnage on Wall Street. Lewis' Liar's Poker, published in 1989, chronicled his experiences as a bond trader at Salomon Brothers (now owned by Citigroup) in the 1980's and how Salomon created the morgage backed securities market. Lewis says that when he published Liar's Poker he never imagined that the excesses he described in the book could continue for two more decades. In this article he discusses the experiences and viewpoints of a few people who foresaw the current mess and positioned themselves to profit from it.


http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom#page1