Liar's Poker Author Reckons He Inadvertently Created The Subprime Crisis

Photo: Getty/Chris McGrath

Author and former Salomon Brothers trader Michael Lewis says he may have inadvertently created the sub-prime crisis by inspiring “young men who knew nothing about anything” to join Wall Street.

Lewis was speaking at a AFR event this afternoon.

His best-selling business books include: Liars Poker, an account of his experiences at Salomon; Moneyball, on which the 2011 Brad Pitt movie was based; and The Big Short, which is about the 2008 financial crisis.

The Fin reports:

“While researching The Big Short, his account of the crisis, Lewis says he interviewed people – ‘young men, who knew nothing about anything’ – who told him: ‘You’re the reason I’m in the business.’

These young, smart, self-interested finance guys said Liar’s Poker is what inspired them to join Wall Street. ‘I thought, geez, I created this crisis!'”

More on the Fin.

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