Fraud, inefficiency, and criminality are rampant in business, far more so than in government. Pretty much every business owner is a petty criminal or worse, and corporate owners more so…tax evasion, wage theft, zoning violations, environmmtal violations, consumer fraud, sexual harassment, immigration violations, child labor law violations, bribery, safety violations…just aa normal business day.
Hie first book Liars Poker will always be my favorite financial book. He gives first hand account of what was going on. The key people in that book were key players in the 2008 crash 2 decades later.
One story from the book I remember the New York boos was in London where he worked trying to get them to sell some crappy bonds. He makes Lewis call his best client to sell them to him. Lewis knew the guy didn’t like any popular investment. So Lewis calls him with his boss standing there. He keeps telling his client how popular these bonds are. That everyone is buying them. Needless to say his client passed.
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Not any more Mr. Michael Lewis, not any more…
Fraud, inefficiency, and criminality are rampant in business, far more so than in government. Pretty much every business owner is a petty criminal or worse, and corporate owners more so…tax evasion, wage theft, zoning violations, environmmtal violations, consumer fraud, sexual harassment, immigration violations, child labor law violations, bribery, safety violations…just aa normal business day.
Hie first book Liars Poker will always be my favorite financial book. He gives first hand account of what was going on. The key people in that book were key players in the 2008 crash 2 decades later.
One story from the book I remember the New York boos was in London where he worked trying to get them to sell some crappy bonds. He makes Lewis call his best client to sell them to him. Lewis knew the guy didn’t like any popular investment. So Lewis calls him with his boss standing there. He keeps telling his client how popular these bonds are. That everyone is buying them. Needless to say his client passed.
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