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Wall Street Is `Making America Worse'
Michael Lewis looks at the sub-prime hangover
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The structural integrity of the US financial system is shot through of holes and we've probably come to the end of the road. The real estate market is collapsing and the bad loans made in 2005+ haven't gone away. In fact, they've been added to.
The exact timing is always uncertain, but when the engine of finance, Wall Street, is rotten to the core it's hard to see a way out.
Michael Lewis has been writing about Wall Street for more than two decades and his book "Liar's Poker" exposed the excesses of the 1980s.
His conclusion: The '80s were child's play compared to what's going on now.
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