60 MINUTES
Michael Lewis writes about a handful of Wall Street outsiders who realized the subprime mortgage business was a house of cards and found a way to bet against it.
Michael Lewis: Wall Street is able to delude itself because its paid to delude itself... if you pay someone not to see the truth, they will not see the truth...
they, the big investment banks have long sought to exploit their customers... the people who were most instrumental in building the sub prime mortgage machines also happen to be the ones who have the most detailed understanding now of the securities in the rubble and they're being paid all over again... people who create disasters make a lot of money cleaning up the disaster cause they don't want you to know about the disaster...
Part I
Part II
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