By Hedge Fund Insight staff,
Michael Lewis, author of “Flash Boys” and “Liar’s Poker”:
“It is distorted by a lot of government help that the big banks have received. It bothers me a lot that we still have “too big to fail”.
“It really seems to me that we can’t have capitalism for everybody but the capitalists. One group is then living by “if you fail you fail (and suffer all the consequences)” and another group in society (who happen to be elites) living with a net below them – they never fail, no matter what they do to everybody else. There is an inequity there.
“I would feel less strongly about it if the people who had queered the system in their favour were not the elites – the graduates of the finest universities who had all the advantages already. They don’t need more advantages.”
Michael Lewis was speaking at the Free Library of Philadelphia in March this year as part of the Author Events program.