April 19, 2010. Double D Ranch, Tx. The Big Short.

We knew it would not end well. Our purchasers were given huge loans, often with no money down, paying interest only for five years, followed by an adjustment of the interest rate. Purchasers with no cash and small incomes were given these so called teaser loans, where the interest rates were low for two years, then move to a new interest rate. It seemed bizarre, and it was, so bit by bit, the world of sub-prime loans came crashing down, bringing the financial world along with it.

"The Big Short" is a fascinating book, written by Michael Lewis. The whole picture is not pretty but it is certainly appalling. I enjoyed the book even though it is technical with the terminology. It certainly makes a cynic out of you, as his premise is that the Wall Street folks did not have a clue what they were doing. It makes the whole picture somewhat understandable and is worth plowing through the details.

For my money, "Money Ball" is his best book. "The Blind Side" started out about football. but he got lost in the story of big Michael. This book he writes with a lot of righteous indignation, from beginning to end, so I would rather he just tell the story and let the reader decide if something was right or wrong. But I am pleased to have read the book, and even more pleased he has written the tale. This story needed telling.