America’s Financial Insanity
A short interview with Michael Lewis [see EA’s previous post on Lewis’ excellent article in Portfolio] about the book he just edited, Panic: The Story of Modern Financial Insanity. In compiling the stories, Lewis was not only surprised at the dearth of good writing, but the paucity of material leading up to the the nation’s biggest financial disaster of all time.
How little there was worth reprinting. I had six interns digging up all kinds of stuff, and I looked at 20 times the amount of material that appeared in the book. I assumed there would be lots of stories predicting each panic before the panics actually struck. But there was very little. Afterwards you’d have a flurry of literary activity, and then everybody was on to the next thing. Still, there was a common thread: You were watching America’s growing financial insanity. [via link]