By Meena Kar
New York, March 15, (THAINDIAN NEWS) Michael Lewis, the author of “Liar’s Poker” which led the readers in to the working of the hungry for money Wall Street of 1980s, has penned down his new book “The Big Short” which deals with the crushing down of the Wall Street and the whole American economy in 2008. It picks and shows that fault which led to this disaster and how the meltdown was guessed by a handful of investors who took enough steps to earn profit out of this downfall.

“The Big Short” which is subtitled as “Inside The Doomsday Machine” leads the reader into the workings of the mortgage system and the financial circle which led to the crazy real estate business and the ultimate crash which has affected every individual of America. He blames in his book the ’subprime mortgages’ that the financial sector thought to be the real fortune and went on reselling. This he says was based on a mathematical calculation which was as complex as confusing and according to him, many financial executives did not understand themselves. However, some investors had the inkling of something going wrong and could see the mad Wall Street rush. These investors got lucky enough from the ultimate crush of the Wall Street.

Michael Lewis had reportedly said in an interview that he felt like he was writing a sequel to his “Liar’s Poker” which explored the world of Salomon Brothers. The 226 pages book is published by W.W.Norton & Co. The book has received praises from critics and book lovers for its brilliant insight into the working of the faulty machinery.