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Debunking Michael Lewis' Subprime Short Hagiography

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"FUNDAMENTALLY MISLEADING"
"The current number one non-fiction best seller, Michael Lewis’ The Big Short: Inside the Doomsday Machine, addresses the question “Who got it right? Who saw the real estate market for the black hole it would become, and eventually made billions from that perception?” It is hailed as meeting the usual Lewis high standards of engaging story-telling and character depiction in combination with making a complex arena accessible to lay readers," writes Yves Smith at Naked Capitalism. "Lewis’ tale is neat, plausible to a mass market audience fed a steady diet of subprime markets stupidity and greed, and incomplete in critical ways that render his account fundamentally misleading."
SOURCE:   Naked Capitalism

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