Lewis exposes the greed and corruption of the Greek government, which borrowed money from the Greek banks and misused it. For instance, his compelling accounts about the Greece economy busted the many myths about the country’s repute as a holiday paradise. Lewis demystifies the working of Wall Street with the help of human characters such as Steve Eisman, a Wall Street broker, Michael Burry, a physician turned into a stock picker, and Greg Lippman, a bond salesman at the stock market.įor example, in chapter 2, Lewis gives very comprehensive descriptions to validate his points.

In each chapter, the author provides several pieces of evidence to support his central argument.

Lewis tells the personal stories of his chosen traders, reflecting the flaws in the stock trading system. In the book, Lewis relates several short stories about the short selling on Wall Street and the resultant collapse, which affected the lives of many in 2008. What evidence does the author provide to support her/his central argument? During an investigation for the right investment opportunities for his clients, he had found that the bond market was artificially inflated and nearly valueless. The author truthfully speaks of the facts which led to this fall, providing a clear perspective of the selfish people who had foreseen the fall but had chosen to remain silent for their own personal reasons.īeing a stockbroker on Wall Street, Michael Lewis feels strong resentment for the selfish actions of the fund managers and bankers on Wall Street. Reporting the facts of the great stock market crash in 2008, the author shares his perspective based on his personal experiences during this great fall. Michael Lewis reflects his personal experiences in the book. What is the author’s perspective or point of view? Even banks were engaged in the shameful practice of selling subprime mortgage bonds to create default swaps in a bid to destabilize the entire economic system. The author exposes how the financial institutions exploited and misused one of the most reliable assets of the financial industry, bonds. The author centers the theme around four groups of subprime traders who were primary short sellers in the market and had foreseen the impending doom on the stock markets.

Doomsday book review