“In 1988, Lewis walked away from Solomon Brothers and an extremely lucrative position to write his book under the pretext that the whole experience struck him as preposterous. He figured the situation was unsustainable. Sooner rather than later, someone was going to identify him, along with a lot of people, as a fraud. Sooner rather than later, there would come a Great Reckoning when Wall Street would wake up and hundreds if not thousands of young people like Lewis, who had no business making huge bets with other people’s money, would be expelled from finance. Nothing could have been further from the truth, The Great Reckoning would not occur for another two decades.”
Read more from esteemed financial guru Randal Hines in the latest issue of Carnet Atlantique.