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The Big Short Summary By Michael Lewis

582 Words3 Pages

Daniel Massry
4/17/23
Big Short Paper
Res3100, Ryan

Business ethics can be referred to as the principles and values that govern the behavior of businesses and individuals in the marketplace. It involves considering the impact of business decisions on various stakeholders, such as customers, employees, shareholders, and arguably most importantly broader society. In the book "The Big Short," Michael Lewis explores the 2008 financial crisis, where unethical practices in the financial industry led to a global economic meltdown.
One of the main ethical issues in the book was the selling of subprime mortgage-backed securities, which are essentially bundles of high-risk loans packaged together and sold as AAA mortgages, which was supposed to be a safe investment. The sellers of these securities were aware of the high likelihood of default on these loans but still sold them to investors, leading to significant losses when the housing market crashed. This practice was unethical, as it involved knowingly misleading investors for personal gain and neglecting the well-being of stakeholders. …show more content…

One character in the book who demonstrated questionable business ethics was Steve Eisman. Eisman was a hedge fund manager at FrontPoint Partners who saw a once in a lifetime opportunity to profit off the impending collapse of the subprime mortgage market. He did this by betting against subprime mortgage-backed securities, essentially shorting them, and when the market collapsed his investment skyrocketed. While his actions were legal, they raise ethical concerns about profiting from the financial hardship of

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