Author Lewis Says Wall Street Is `Making America Worse' 

Buying sneakers and guns. As long as we benefit it's hard to get excited for someone else's plight. Even if it's our future self.

This man is into fame ,

Indeed.

Yeah Fluid mechanics has had a big impact on Financial Mathematics. But I think it's also an extension of Thorp and Bachelier's work!

James Peterson in a nutshell a mechanic knows your brakes are shot fails to tell you then goes out and takes out insurance cds basically buying insurance on an assets you don't own sec didn't regulate cds as insurance @ 19.00 per video

My sister is a retired broker. She approved NINJA loans (no income no job no assets). She knows people who are serving time now.

+ITILII pretty easy to look up, you have google don't you?

Many many people touched these things. The point at which they became completely toxic rather than just a mortgage bond is debatable. Personally I'd say the synthetic CDO was really the most egregiously evil evolution of this. Wing Chau at Harding Advisors was a big part of the synthetic CDO apparatus. He did Merrill Lynch's CDOs and Merrill's were undeniably the most toxic.

They didn't see it coming. That's why it is a horror show. No boogeyman to blame.

I agree. credit default swaps, trenches, collateralized debt obligations. Ive read the book twice, and saw the movie. That's part of the problem that he highlights. These things were made purposefully oblique so that investors wouldn't understand them.

Still is.

@@jupena ... that was the decisive factor killing Lehmann Brothers ...

Video maker took one too many head bumps playing football. This is what the world look like to him.

Yeah, but he earned it.

Yes I saw it, thanks. I'm baffled as to why he was so ambiguous when he was talking about the responsible parties? It would have been easy to name names.

+Reed Schrichte Well Michael Burry seemed to make the right call based on the maths and a thorough understanding of the rules of the market in question. So what's your problem?

+SEAL 341 It's not my 'problem', it's an observation: he was right because the timing was right, and he could not possibly control the timing. How many people made the same bet, but the market did not turn in the time frame they had picked (too soon? too late?) Did Mr. Burry's maths and his thorough understanding reveal the timing? Perhaps it did, that would certianly be a most useful tool to have at one's disposal and I'd have to question why he has not made a bigger deal about, after all if you could prove that much accuracy in your predictive analysis then the world would be your oyster. Or is he a one-hit wonder?

Well...he's a multi billionaire and I bet you're not. That's your problem.

Why is that a problem? I'm sorry, but it appears that you missed my point. Kindly address the point, sir, otherwise spare us your amateurish attempts at psychology, because your effort to reduce the observation to my personal feelings of envy are an embarrassment.

RU-vid red would solve that ($9.99/m)