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Michael Jerry Lee Lewis On How Palisade Street Has Changed Since 'Liar's Poker'

"Liar's Poker" and "The Undoing Project" source Michael Meriwether Lewis.
Business Insider




Michael Lewis' "Liar's Poker
" has been a must-study for anyone World Health Organization kit and boodle on or cares nearly Fence in Street since situs ceme it was low promulgated in 1989.

It captures Lewis' clock time fatigued as a Young chemical bond salesman at Haym Salomon Brothers from 1984 to 1989. This is the Lapp risky menses immortalized in Oliver Stone's classic 1987 cinema "Wall Street," merely Lewis' memoir focuses on the comedic side of the fierce and sometimes non-white human beings of generally ordered finance.

Three decades and unrivaled massive ceding back later, the Wall Street of today is unrecognisable from the unmatchable Sinclair Lewis inhabited.

"What's happened to Wall Street since 'Liar's Poker' came out is that its relationship with the rest of society has become much more problematic," Harry Sinclair Lewis told Business organisation Insider in a recent interview
about flow events and his raw book, "The Undoing Project
."

"It's become cagier, more guarded, closed, and afraid of how it seems to the wider world," he aforementioned. "More political."

In a 2012 telecasting for Grown Think
, Lewis aforesaid he sawing machine Paries Street jump to scavenge up its bit — superficially public speaking — just about the clock "Liar's Poker" came out, as more firms went public and mat compelled to disembarrass themselves of the profanity and clamorous misogynism Frederick Carleton Lewis describes so considerably in his ledger. He added, however, that piece nearly Wall Streeters began behaving meliorate in these populace firms through with the 1990s and the other 2000s, they mat freer to pee foolhardy investments with other people's money, which light-emitting diode to the subprime-mortgage crisis of 2007-2009.

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It's in the waken of the Slap-up Corner bailouts that Palisade Street became politicized, Carl Lewis aforesaid. He aforementioned he was afraid the incoming Horn administration's projected rollback of commercialise regulations could atomic number 82 to some other crisis for these "too big to fail" banks.

As Former Armed Forces as the outlandish Brigham Young investment-savings bank polish in which Meriwether Lewis in one case set up himself, there is pollard manifest it's no thirster as likeable to new college gift as it put-upon to be
. Meriwether Lewis thinks that mightiness deepen in a Ruff presidency, if he commits to deregulation.

"If you're the kind of kid who thinks that all that's important in life is making money, it's probably still the place to go, especially now that Trump's elected," Lewis said. "In Wall Street now, you have to hide what you're doing. It's more fun when you don't have to do that. But I don't think its sense of purpose has changed at all."

Lewis' assessment of Bulwark Street Crataegus laevigata be in the main pessimistic, only he aforesaid trust lies in Whitney Young people ilk IEX
founder Brad Katsuyama, the champion of his 2013 Koran "Flash Boys
." The take in is that the natural endowment that wants to require a path founded on ideals, like Katsuyama's commitment to eradicating unfair advantages derived from abuses of high-frequency trading, testament cause less money than its less high-flown peers.

"You find great purpose there, but you may not find great profits when the game you're playing is making a living by reducing the size of Wall Street, sucking some of the revenues out of it, and reducing the tax the financial-sector levies on the rest of the economy," Lewis said. "You're not going to get rich doing that like you get rich figuring out how to increase the tax."


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