The Art of Tetman Callis

Some of the stories and poems may be inappropriate for persons under 16

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Entries Tagged as 'Michael Lewis'

More sugar!

June 12th, 2012 · 3 Comments

“A color-coded map of American personal indebtedness could be laid on top of the Centers for Disease Control’s color-coded map that illustrates the fantastic rise in rates of obesity across the United States since 1985 without disturbing the general pattern.  The boom in trading activity in individual stock portfolios; the spread of legalized gambling; the […]

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Tags: Economics · Michael Lewis

We export this stuff, too

June 11th, 2012 · 9 Comments

“It isn’t a problem with government; it’s a problem with the entire society.  It’s what happened on Wall Street in the run-up to the subprime crisis.  It’s a problem of people taking what they can, just because they can, without regard to the larger social consequences.  It’s not just a coincidence that the debts of […]

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Tags: Economics · Michael Lewis

A long position on short stories

June 10th, 2012 · No Comments

“There is no such thing as a riskless asset.  The reason an asset pays a return is that it carries risk.” – Michael Lewis, Boomerang Share this…FacebookPinterestTwitterLinkedinemailPrint

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Tags: Economics · Michael Lewis

It’s also known as “hallucinating”

June 8th, 2012 · 2 Comments

“When you borrow a lot of money to create a false prosperity, you import the future into the present.  It isn’t the actual future so much as some grotesque silicone version of it.  Leverage buys you a glimpse of a prosperity you haven’t really earned.” — Michael Lewis, Boomerang Share this…FacebookPinterestTwitterLinkedinemailPrint

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Tags: Economics · Michael Lewis

This has not changed (would you like to buy some Facebook shares?)

June 7th, 2012 · 2 Comments

“One of the hidden causes of the current global financial crisis is that the people who saw it coming had more to gain from it by taking short positions than they did by trying to publicize the problem.” — Michael Lewis, Boomerang Share this…FacebookPinterestTwitterLinkedinemailPrint

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Tags: Economics · Michael Lewis

Then we saw its face

June 5th, 2012 · 5 Comments

“A banking system is an act of faith: it survives only for as long as people believe it will.” – Michael Lewis, Boomerang Share this…FacebookPinterestTwitterLinkedinemailPrint

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Tags: Economics · Michael Lewis

Crispy critters

July 5th, 2011 · No Comments

“There’s a difference between an old-fashioned financial panic and what had happened on Wall Street in 2008.  In an old-fashioned panic, perception creates its own reality: Someone shouts ‘Fire!’ in a crowded theater and the audience crushes each other to death in its rush for the exits.  On Wall Street in 2008 the reality finally […]

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Tags: Economics · Michael Lewis

Something for nothing

June 30th, 2011 · No Comments

“With stagnant wages and booming consumption, the cash-strapped American masses had a virtually unlimited demand for loans but an uncertain ability to repay them.  All they had going for them, from the point of view of Wall Street financial engineers, was that their financial fates could be misconstrued as uncorrelated.  By assuming that one pile […]

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Tags: Economics · Michael Lewis

Clarity

June 29th, 2011 · 1 Comment

“The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him.” — […]

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Tags: Economics · Michael Lewis · Tolstoy

Roll them bones

June 23rd, 2011 · No Comments

“The line between gambling and investing is artificial and thin.  The soundest investment has the defining trait of a bet (you losing all your money in hopes of making a bit more), and the wildest speculation has the salient characteristic of an investment (you might get your money back with interest).  Maybe the best definition […]

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Tags: Economics · Michael Lewis

All the democracy money can buy

June 23rd, 2011 · 2 Comments

“I think there is something fundamentally scary about our democracy.  Because I think people have a sense that the system is rigged, and it’s hard to argue that it isn’t.” — Charlie Ledley (from The Big Short, by Michael Lewis) Share this…FacebookPinterestTwitterLinkedinemailPrint

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Tags: Economics · Michael Lewis · Politics & Law

Just lay back and enjoy it

June 22nd, 2011 · 2 Comments

“The upper classes of this country raped this country.  You fucked people.  You built a castle to rip people off.  Not once in all these years have I come across a person inside a big Wall Street firm who was having a crisis of conscience.  Nobody ever said, ‘This is wrong.’” — Steve Eisman (from […]

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Tags: Economics · Michael Lewis · Politics & Law

Anybody we know?

June 22nd, 2011 · No Comments

“A society with deep, troubling economic problems had rigged itself to disguise those problems, and the chief beneficiaries of the deceit were its financial middlemen.  How could this be?” — Michael Lewis, The Big Short Share this…FacebookPinterestTwitterLinkedinemailPrint

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Tags: Economics · Michael Lewis · Politics & Law

Separate but equally clueless

June 21st, 2011 · No Comments

“There are actually people who do nothing but invest in European mid-cap health care debt.  I don’t think the problem is specific to finance.  I think that parochialism is common to modern intellectual life.  There is no attempt to integrate.” — Charlie Ledley (from The Big Short, by Michael Lewis) Share this…FacebookPinterestTwitterLinkedinemailPrint

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Tags: Economics · Lit & Crit · Michael Lewis