Archive for March 11th, 2016

March 11, 2016

Liar’s Poker

Gutfreund

Liar’s Poker is a non-fiction, semi-autobiographical book by Michael Lewis describing the author’s experiences as a bond salesman on Wall Street during the late 1980s. Two important figures in that history feature prominently in the text, the head of Salomon Brothers’ mortgage department Lewis Ranieri and the firm’s CEO John Gutfreund.┬áThe book’s name is taken from a high-stakes gambling game popular with bond traders.

First published in 1989, it is considered one of the books that defined Wall Street in that era, along with Bryan Burrough and John Helyar’s ‘Barbarians at the Gate: The Fall of RJR Nabisco,’ and the fictional ‘The Bonfire of the Vanities by Tom Wolfe.’ The book captures an important period in the history of New York’s financial markets.

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