This made it harder to sell to the investors because

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inherently risk taker. This made it harder to sell to the investors because the Wall Street product buyers monitored the Standard, rating agencies and the Poor for guidance to Moodys, this is because their riskier and rating products were expected to receive minimal ratings. However, there exists an inherent conflicting interest between the rating agencies and the Wall Street since the agencies were paid by the Wall Street to rate their products. This showed the rating agencies manipulating the rating of the riskier mortgage bonds. The agencies rated the mortgage bonds on the basis of FISCO scores average borrower. This gave room to the Wall Street firms to create bonds that contained low FISCO and high borrowers in order to increase the general rating of the bond. My opinion on the book The Big Short is among one of his best books where he describes the events leading up to the crisis and the mindset of those who would bet for an economic collapse. The story is very educational as well as fascinating, to say the least. Michael Lewis is able to make you feel like you are a fly in the wall of some historic meetings. He puts you write in the action and this creates much more depth in the reading and allows the reader to grasp the ideas a bit more than you would if it were in a textbook. He increased my understanding of credit default swaps (CDO’s) and how the crisis came to be. This is my favorite part of the book because it has created a thirst for knowledge in this area in me that I did not have previously. Work cited Lewis, M. (2010). The Big Short: Inside the Doomsday Machine . New York: W.W. Norton.
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