Michael Lewis, 'The Big Short' Author, On Jon Stewart: How A One-Eyed Man Bet Against Wall Street (VIDEO)
Michael Lewis came on "The Daily Show" last night to talk about his new book, "The Big Short," about the few investors who bet against subprime loans in 2005, predicting the financial meltdown, and were able to make money off of it. The book highlights one of these investors, a man named Mike Burry, who has a glass eye and Asperger's syndrome but was still smarter than the rest of Wall Street.
These bets against the market, Lewis said, are important because they are "the only incentive in the system to bring bad news into the system" -- most Wall Street investors had "forgotten" that they'd rigged the market, and couldn't let themselves believe that something catastrophic was going to happen.
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