How a few outsiders bet against the global financial system and won. Watched the movie many times but the book is fantastic, so much insight into how Wall Street really works
Rating: 4/5
Wall Street doesn’t give a shit about what it sells - it’s all to make money no matter who they’re screwing over
The CDO was a credit laundering service for lower middle class America
Only a few bet against the entire global financial system. The catastrophe was foreseeable yet no one noticed
NEVER watch CNBC. It clouds your judgemtn because all news to them is positive
When an executive at a bank says he has liquidity, it means he doesn’t
The whole book is about incentives and how Wall Street’s are and continue to be totally fucked
300 billion was guaranteed by the treasury for Citi’s assets. Fuck Wall Street!
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