Creative Class

Felix Salmon points to Michael Lewis’ review of the new Warren Buffett biography by Alice Schroeder.

“Lewis is no fan of Buffett’s, and dwells in his review on many of the investor’s weaknesses: his juvenile shoplifting, his dysfunctional family life, his “diet of an eight-year-old.” He even explains why he thinks that “there has never been a better time to bet against Warren Buffett” – not that Lewis himself is about to do so. Lewis says that Buffett is unhappy with Schroeder’s book; he’ll be much less happy with this article …”

In an interesting article by the author of Liar’s Poker, Michael Lewis discusses the current stock market collapse.

The article is thought-provoking in its own right, but it brings up an intriguing question: Were the folks who created the Wall Street securitization machine part of the creative class? Were these financial innovations innovations at all? To put a punctuation point on the question, are flimflam persons and those that create Ponzi schemes creative? They certainly are clever and imaginative.