Against the Rules · November 4, 2025 · 49m

Lender of Last Resort

Michael Lewis (solo)

When Michael Lewis wrote The Big Short, there was an extra character in the story: The Federal Reserve System, the central bank of the US, which bought up bad debt on the balance sheets of big Wall Street banks and trading firms.

This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.

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