Roger Lowenstein is one of the most gifted finance author's alive. If you have not read his book “When Genius Failed” about the 1998 hedge fund crisis and the demise of Long Term Capital, do yourself a favour and read it next. It offers important understanding and context to where we are today. His new book, “The End of Wall Street,” brings the next riveting instalment in the on-going finance crisis of our times.
Lowenstein spoke with Aaron Task at Tech Ticker a few days ago. His present assessment is that no, problems have not been solved, and thanks to Greenspan and Bernanke, the next leg of the crisis could be centered right in Washington and is likely to be “even scarier” than the last.
I also read Michael Lewis's latest book the other day: The Big Short: Inside the Doomsday Machine which chronicles the remarkable story of the rise and fall of sub-prime debt.
Lewis ( like Lowenstein) is a brilliant story teller; no one can teach us about these key topics in a more entertaining and insightful way than Lowenstein and Lewis.