Inside The Collapse of the Subprime Mortgage Business
Last night 60 Minutes had a very interesting segment about Michael Lewis who is about to release a book (titled “The Big Short : Inside the Dooms Day Machine“) about a handful of Wall Street outsiders who realized the subprime mortgage business was a house of cards and found a way to bet against it. One outsider made over $700MM. Michael Lewis also talks about the current situation on Wall Street, the large bonuses still being paid and his predictions for the future of the industry. See videos below.
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