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04-12-2007, 02:47 PM
Liar's Poker by Michael Lewis
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Overview: Liar's Poker follows two different story threads, though not necessarily in chronological order.
The first thread is autobiographical, and follows Lewis through his college education and his hiring by Salomon Brothers in 1986. This part of the book gives a first-person account of how bond traders and salesmen truly work, their personalities, and their culture.
The second thread is a sort of history of Salomon Brothers and overview of Wall Street in general, especially how the firm single-handedly created a market for mortgage bonds and made the firm wealthy, only to be outdone by Michael Milken and his junk bonds. This thread is less dependent on Lewis' personal experience and features quotes apparently drawn from interviews with various relevant figures.


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