15682_4.6_000000667950XSmall

Michael Lewis and the U.S. Congress

by Elaine Schwartz    •    Jun 4, 2010    •    200 Views    •    TIME TO READ: 0 minutes Less than a minute

The Big Short by Michael Lewis (who also wrote The Blind Side) is a “hot read” on Capital Hill. Senate Majority Whip Dick Durbin (D-Ill) recommended it. Chris Dodd (D-CT) referred to it during a speech on Fannie and Freddie. And, Senators Harry Reid (D-Nev), John Ensign (R-Nev.), and Ted Kaufman (D-Del.) were among several other lawmakers who said, “Read it.”

Meanwhile, in a fictitious NY Times letter called “Shorting Reform,” Lewis expressed withering skepticism about Congress.  

Interesting.

The Economic Lesson
The 34 page Glass-Steagall Act functioned productively between 1933 and the mid-1970s. Lessons from it?

 

« »