Against the Rules: The Big Short Companion

Today, we're sharing a new podcast from Pushkin Industries we think you'll enjoy, Business History. Former Planet Money hosts Jacob Goldstein and Robert Smith examine the surprising stories of businesses big and small, bringing to life the greatest innovations, the boldest entrepreneurs and the craziest mavericks in the archives of commerce and finance. In this episode: Curt Flood vs. Major League Baseball. Curt Flood was the best center fielder in baseball and one of the game's highest payed players. He helped the St. Louis Cardinals reach the 1968 World Series... but then got traded. The rules said had no say in the decision. He either could go to Philly, or quit the sport. So Curt decided to sue. Curt argued that Major League Baseball should act like any other business and let workers sell their labor to whichever team they liked. But for decades, courts had ruled in favor of the team owners. Curt's fight would destroy his career; anger many parts of American society; and change the sport forever. (00:01:05) Listen to Business History, on Apple Podcasts & Spotify or wherever you get your podcasts.See omnystudio.com/listener for privacy information.

Recently, Michael Lewis spoke with Nicolle Wallace, host of the podcast The Best People, at Symphony Space in New York. They discussed what it was like re-visiting the Big Short 15 years on. And we hear the actor Zach Grenier dramatize a portion of The Big Short. Order The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, pushkin.fm/bigshort or wherever you get audiobooks.See omnystudio.com/listener for privacy information.

According to the science, it really is better to give than receive. Donating a dollar; sharing a kind word or lending someone a hand changes lives, but can also hugely boost your happiness. So we're teaming up with other podcasts from Hidden Brain to Revisionist History to ask you to give to a charity helping some of the poorest people around. We're calling it #PodsFightPoverty. Go to givedirectly.org/happinesslab right now and give whatever you can. Even a small donation will make you feel good and have a much larger impact on the world than you thought possible. To help inspire you, this special episode examines the science of giving and shares stories of heartwarming and impactful acts of kindness. See omnystudio.com/listener for privacy information.

Of all the characters in The Big Short, fund manager Michael Burry (depicted by Christian Bale in the movie version) seemed the least likely to grant Michael Lewis a follow-up interview. Burry was one of the first to see the subprime housing market crisis coming, and he actually helped Wall Street banks develop the credit-default swap, the instrument that allowed short sellers to make their bets against the market. Lately, Burry has been in the news again because his fund has taken short positions against tech giants Nvidia and Palantir. Now he finally sits down with Lewis as part of this series. Burry recently launched a newsletter called Cassandra Unchained. Order The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, pushkin.fm/bigshort or wherever you get audiobooks.See omnystudio.com/listener for privacy information.

To wrap up our series on The Big Short, Michael Lewis speaks with two people who represent two very different responses to the financial crisis of 2008: US Senator Elizabeth Warren, an expert in bankruptcy law who became an advisor to the Obama White House before running for higher office in Massachusetts. And Michael interviews former Trump White House advisor and right-wing podcaster Steve Bannon, who talks about how the financial crisis radicalized him. Order The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, pushkin.fm/bigshort or wherever you get audiobooks.See omnystudio.com/listener for privacy information.