President Barack Obama Message Board

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Politics : President Barack Obama

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To: Fiscally Conservative who wrote (46050)	11/30/2008 8:24:06 PM
From: RetiredNow	1 Recommendation Read Replies (1) of 149317

Hi all, if you want to understand what happened to precipitate this financial crisis, there is one guy who has made a career out of explaining things to laymen in a storytelling way. His name is Michael Lewis and he wrote Liar's Poker a long time ago. The article below was written by Michael to explain the mortgage backed derivatives business that was a ponzi scheme and just blew up, leaving all us work-a-day suckers holding the bag. Do yourself a favor. Read the entire thing. Try to understand what is happening in this country and why it is so important we have a President and Congress that focuses on regulation and a thriving middle class to keep the country sound.... portfolio.com The End by Michael Lewis December 2008 Issue The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong.

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