On The Tape with Danny Moses Michael Lewis Q&A with Danny Moses, Vincent Daniel & Porter Collins
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Oct 7, 2025 
Renowned author Michael Lewis, known for works like The Big Short and Moneyball, joins Danny Moses, Vincent Daniel, and Porter Collins for an insightful conversation on the financial crisis's lasting impacts. They delve into the differences between his book and its film adaptation, exploring themes of risk and moral hazard in today’s markets. The discussion covers the evolving role of the Fed, the potential for future crises, and the importance of incentives. Plus, Michael offers advice to young writers navigating the age of AI.
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The Crisis Echoes Into Today
- Michael Lewis reissued The Big Short audiobook and is producing a podcast season to trace the crisis' long-term consequences.
- He links many contemporary issues, including politics, back to the 2008 financial crisis and wants to rethink its aftermath.
Risk Migrated Off Traditional Wall Street
- Lewis observes risk-taking moved out of traditional investment banks into other players like private equity and trading firms.
- He argues the most interesting risk now lives outside old Wall Street institutions.
Fed Boldness Came With Political Risk
- Lewis describes the Fed's evolution from timid to bold during crises and worries about political costs to its independence.
- He notes Bernanke knowingly gambled the Fed's independence to stabilize the system.
