3min chapter

Against the Rules with Michael Lewis cover image

Other People’s Money: Jacob Goldstein and the Bonds of Wall Street

Against the Rules with Michael Lewis

CHAPTER

The Code of the Liar's Poker

The bond traders of goldmansa first, boston, morgan stanley, merrylynch and other wall street firms all play some version of liars poker. But the place where the stakes run highest is the new york bond trading floor of solomon brothers. In a single hand, anything could happen. Luck could very well determine the outcome. Merriweather spent his entire day avoiding dumb bets, and he wasn't about to accept this one. He said, if we're ging to play for those kind of numbers, i'd rather play for real money. No tears, ten million dollars.

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