If you haven't yet read the Magnetar story on Pro Publica, here's the link. And if you don't have time to read it, here's the link to the This American Life version on show #405 title The Inside Job. It's not exactly the same, but it will knock your socks off and send you screaming out onto the street in a rage. (Well, it did for me.)
I read a version of Michael Lewis' The Big Short in the late Portfolio magazine. That story was about the person and personality of a guy who saw the coming failure of the housing market and bet against it with a short position and made buckets of money. The Magnetar story is different and in a way more important because it's not about a quirky guy. Instead, it looks at the Wall Street system and the ethics embedded within it that made what could be construed as stealing, or at least rigging the system, seem like a reasonable day's work.
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