“For that purpose, partly as the result of Ranieri’s persistent lobbying, two new facilities had sprung up in the federal government alongside Ginnie Mae. They guaranteed the mortgages that did not qualify for the Ginnie Mae stamp. The Federal Home Loan Mortgage Corporation (called Freddie Mac) and the Federal National Mortgage Association (called Fannie Mae) between them, by giving their guarantees, were able to transform most home mortgages into government-backed bonds.”
Liar's Poker is a personal account of the author's time at Salomon Brothers, a leading investment bank, where he navigated the intense and often unethical world of financial trading. The book offers an insider's perspective on the culture of greed and the rapid growth of the financial industry during the 1980s. more
Michael Lewis, born on October 15, 1960, is a renowned American author. His works are known for their in-depth investigations and revelations of the truths in the financial, business, and sports worlds. more
“Stay invisible, strike inevitably—this is the art of survival.”
“Some people are slow to do what they promise; you are slow to promise what you have already done.”
“Singling out a perceived threat to our end goal of peace does not serve that end”