The big short book barnes and noble
The Big Short - The Barnes & Noble Review
On January 31, , a broad range of CDO spreads started to widen, dramatically. The long-feared meltdown was upon us all — not that most of us knew it, at the time — and a very small number of investors was about to get paid out on the trade of their lifetimes. The Big Short is not the story of the crisis, as the crisis is commonly understood. The failure of Lehman brothers and of Fannie Mae and Freddie Mac; the stock-market crash; the bail-out of Detroit; the fevered all-nighters pulled at Treasury and the New York Fed; the fears that the entire global financial system was on the brink of collapse — little if any of that is in this book. Instead, Lewis has found a different story — one which he started mining for a spectacular cover story in the December issue of Portfolio magazine, and which has culminated in this book, over two years later. Their social skills are all but nonexistent; they live in a world of arcane financial analysis which might as well be a different planet for all that it has any bearing on the way that most of us live our lives; and they made their outsize profits by wagering hundreds of millions of dollars on the proposition that Americans across the country would end up being thrown out of their homes after they found themselves unable to make their mortgage payments.
If Readerlink can get financing in place, the person said, Readerlink would consider making a bid sometime before the June 13 cutoff. The company may join with a financial investor, the person said. Readerlink, based in Oak Brook, Ill. Elliott owns the U. If that deal is successful, Mr. Daunt will serve as chief executive of both book chains. In an interview last Friday, Mr.
Facing the prospect of closing down entirely, the company completed a sale to the hedge fund Elliott Management after effectively putting itself on the market last October. Founded in , the worldwide chain enjoyed decades of dominance in the book retail market — until the internet blew up. Here is a brief timeline of the outfit that changed books forever and is now forever changed by what it wrought. The move comes six years after he dropped out of college and opened a college bookstore called the Student Book Exchange. He never finished his degree in metallurgical engineering, but he did start a bookselling empire. The era of the corporatized third place Starbucks, anyone?