[comics] The End … Michael Lewis on Wall Street – twenty years after he wrote about it in Liar’s Poker …

‘This was what they had been waiting for: total collapse. “The investment-banking industry is fucked,” Eisman had told me a few weeks earlier. “These guys are only beginning to understand how fucked they are. It’s like being a Scholastic, prior to Newton. Newton comes along, and one morning you wake up: ‘Holy shit, I’m wrong!’”‰” Now Lehman Brothers had vanished, Merrill had surrendered, and Goldman Sachs and Morgan Stanley were just a week away from ceasing to be investment banks. The investment banks were not just fucked; they were extinct.’

Michael Lewis on the End of a Era in Wall Street

This entry was posted on Wednesday, December 3rd, 2008 at 11:40 am and is filed under Books, Money.

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