Liar’s Poker
by: Michael Lewis
Central Theme:
To question whether personal economic reward reflects contribution to the welfare of society, and if it should.
Recommendation:
A great autobiographical account of the author’s own experience before and during his time at Salomon Brothers’. The account captures the culture and excess wealth that dominated Wall Street during the 1980s.
Summary:
Liar’s Poker was a game that Salomon Brothers’ traders engaged in on a daily basis. Michael Lewis humorously foils this game with the rules in the industry and the financial products the team invented to drive commissions. Lewis reflects on how the environment corrupted his soul and ultimately forced him out the door. The story plays back and forth between an autobiographical thread and a historical account of Salomon Brothers and Wall Street in general, allowing Lewis to relay back and forth to demonstrate how academic knowledge and sustainable production was frowned upon by traders. He describes a time and area within Wall Street where individuals were painted as masters at taking advantage of the public for financial gain.
