The Big Short: Inside the Doomsday Machine

Book

I picked up this book because: 1. I like The Flash Boy from the same author, 2. This book is included free of charge in the Kindle with Amazon Prime account. It worked out quite nicely for me.

This book gave an account of the stories before the financial meltdown in 2008 and the people who were part of the cause of the meltdown and the reason behind the meltdown.

The motivation behind these people were all driven by greed. It is not necessary mean these were the bad guys. After all, the main reason why people work in the wall street is to make money. The people in the book knew exactly what they were doing, but they just did not believe what they were doing could caused this big problem.

The regulation was based on expecting the industry would behave accordingly with few rules, it turned out that the industry would not.

The book took no sides, but the author pointed out in the end of the book that the CEOs and the people in the story still have a very high salary while they could still exploit the market.

Unfortunately.

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