The Big Tort

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Michael Lewis is being sued over his book The Big Short.

Wing Chau, the CDO manager who is bringing suit, claims he's portrayed as one of the books 'villains'.

According to Bloomberg , Chau claims the book depicts him as "someone who ignored his professional responsibilities, made misrepresentations to investors, charged money for work that was not performed, had no stake in the CDOs he managed, was incompetent or reckless in carrying out his responsibilities, and violated his fiduciary duties by putting the interests of ‘Wall Street bond trading desks’ above those of his investors."

Perhaps Chau should have considered filing the suit as a massive class action—because his claims sound a lot like what just about everyone on the political left has been saying about the entire financial services sector since early 2008.


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