“It’s laissez-faire until you are in deep $#!t”

(Guest Post by Matthew Ladner)

The brilliant Michael Lewis looks back at Liar’s Poker and the financial meltdown. Lewis worked for Solomon Brothers, which led the way to securitization of mortages in the 1980s. A must read…

This entry was posted on Wednesday, November 12th, 2008 at 1:01 pm and is filed under economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “It’s laissez-faire until you are in deep $#!t”

Jay P. Greene says:

November 12, 2008 at 4:17 pm

This is great!

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MatthewLadner says:

November 13, 2008 at 7:40 am

If you read Liar’s Poker, the interview with the former CEO of Solomon Brothers towards the end of the piece is priceless.

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Brian says:

November 13, 2008 at 8:53 am

Nooooooo!! According to this people are morons who only pretend to have a clue. Say it isn’t so!!. My entire world view is crumbling!!

I’m kidding of course. Stories like this don’t just make me oppose the bailout more, they make angry.

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