[Video] CNBC - Michael Lewis on Ireland and His New Vanity Fair Article
Michael Lewis is one of the most prominent authors on the inner workings of 'the Street' and the financial crisis they - with central bankers aiding and abetting - create. It looks like he has a doozy of an article coming in March's Vanity Fair in relation to Merrill Lynch and the crisis in Ireland titled 'When Irish Eyes Are Crying'. If you recall, the Irish taxpayer (like the British, and lesser degree American taxpayer) was made to socialize the losses of private entities, whereas a country like Iceland basically gave a big middle finger to the banking establishment. [Dec 9, 2010: Should Sovereign Nations Pursue the Iceland Solution or the Irish Solution?] How Ireland got there, and the aftermath seem to be the focus of the story. Lewis wrote about Greece last year.
While it is too far ahead to be published on the website there is a lengthy Q&A on the website here, and below I've embedded a video from CNBC this afternoon. As I've long decried the combination of central banks fixing every problem with a flood of easy money and incredibly broken incentive systems herks and jerks the global economy from bubble to bust, in increasingly fast time frames.
6 minute video - email readers will need to come to site to view
[Jun 1, 2010: NYT - Michael Lewis Op-Ed on America's Financial Reform, plus Audio Interview]
[Mar 15, 2010: [Video] 60 Minutes- Michael Lewis, Inside the Collapse]
[Jun 14, 2009: Fareed Zakaria with Michael Lewis]
[Jan 5, 2009: New York Times Opinion Piece by Lewis and Einhorn]
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