Against the Rules with Michael Lewis
Journalist and bestselling author Michael Lewis explores the figures in American life who rely on the public's trust, whether in sports, in business, in the courtroom, or on TV. The podcast examines what happens when that trust erodes and we can no longer agree on what's fair and what's not. It features stories from various domains where trust is central.
Episodes
Blockers: A New Audiobook from Michael Lewis
Exciting news! I have an all new book coming out on October 6th: BLOCKERS. You can pre-order your copy of the audiobook exclusively at blockers.fm. The hardcover is available at michaellewiswrites.com. A blocker is the worst thing you could be during President Trump's second term—especially if you worked in the federal government and wanted to keep your job. A blocker was a holdove
From Medal of Honor: James Fleming’s Impossible Vietnam War Rescue
In 1968, in the dense jungles of Vietnam, a team of Green Berets was pinned down by an overwhelming North Vietnamese Army force. Their last hope was a young Air Force pilot named James Fleming. Despite being low on fuel and facing a wall of enemy fire, Fleming refused to turn back. The rescue mission seemed destined to fail, but a split-second decision would earn Fleming the nation’s highest
Live with Nicolle Wallace
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 aud
Michael Burry Speaks
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 a
How the Financial Crisis Broke Politics
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 Banno
How the Financial Crisis Broke Wall Street
To make sense of Wall Street’s hangover from the crash described in The Big Short, Michael Lewis calls up Matt Levine. Levine is author of the Money Stuff newsletter for Bloomberg Opinion and co-host of a podcast by the same name. He’s also a former investment banker who was working at Goldman Sachs during the market crisis of 2008. He and Lewis talk about Bitcoin, bank regulation, and
Lessons of the Great Depression
Andrew Ross Sorkin writes the business and policy newsletter DealBook for the New York Times and is co-anchor of Squawk Box on CNBC. He also has a historical bent, and has a new book out about the causes and consequences of the Great Depression in the 1930s. Sorkin speaks with Michael Lewis about how that crisis differed from the financial crash of 2008, and what we can learn by comparing the two
Lender of Last Resort
When Michael Lewis wrote The Big Short, there was an extra character in the story: The Federal Reserve System, the central bank of the US, which bought up bad debt on the balance sheets of big Wall Street banks and trading firms. To better understand the Fed’s role in the financial crisis of 2008, Michael turns to UC Berkeley economics professor Emi Nakamura. And in the process, we get a mas
The FrontPoint Boys
The Big Short is centered around the story of investment advisors who noticed something was seriously wrong with the subprime housing market starting in the early 2000s. Why did the traders at FrontPoint Partners and others bet against the herd, at great risk to their reputations and their own careers? And what happened after those bets paid off — because the market crashed? Michael Lewis ca
The Short Sellers
Michael Lewis speaks with Greg Lippmann, formerly a bond trader at Deutsche Bank, made famous when he was portrayed by Ryan Gosling in the movie version of The Big Short. And Lewis catches up with Steve Eisman, the Wall Street investor who was played by actor Steve Carell. When did they each start to suspect the subprime mortgage market was rotten, and why? And how did they perceive each other in
Michael Lewis Interviews His Producer
Against the Rules producer Lidia Jean Kott is the host of a new podcast series called The Chinatown Sting. It’s about a group of unlikely suspects at the center of a massive drug bust that took place in 1980s New York. Recently Michael spoke with LJ about her series at a coffee shop in Brooklyn called Land to Sea. You can listen to all six episodes of the “The Chinatown Sting&rdq
Adam McKay is Still Angry About 2008
When Adam McKay decided to make a movie based on The Big Short, he was mainly known for his comedies. But he managed to get a bevy of star actors — among them Ryan Gosling, Brad Pitt, Steve Carell and Margot Robbie — to sign on and bring the intensity and arcane financial jargon of Wall Street to life. Michael Lewis sits down with McKay a decade after he made the Oscar-winning movie ve
The Big Short is Big Back
Back in 2008, Michael Lewis started paying attention to Wall Street again, as banks and investment funds started to announce massive losses. Fifteen years ago, he published The Big Short, about a group of traders and investors who bet against a market that refused to see what was coming. Now it’s time to revisit both the book and the Oscar-winning movie based on it. Get The Big Short a
Sen. Richard Blumenthal on the SAFE Bet Act
Is anyone trying to regulate sports gambling on the federal level in the US? In the fall of 2024, Connecticut Democratic Senator Richard Blumenthal introduced a bill with New York Congressman Paul Tonko. The SAFE Bet would restrict sports gambling ads and would help fund more gambling addiction treatment, among other things. Blumenthal speaks with Michael Lewis about why he sees sports gambling as
Dr. Laurie Santos on Group Psychology, the Teen Brain, and Happiness
Michael Lewis invites over Yale psychology professor Dr. Laurie Santos, host of The Happiness Lab at Pushkin, for a chat about what scientific research has to tell us about sports fandom, teenagers, and gambling. You can sign up for The Happiness Lab newsletter here.See omnystudio.com/listener for privacy information.
Natasha Schüll on the Antisocial Lure of Gambling
As an anthropologist, Natasha Schüll spent more than a decade doing field work in Vegas casinos, especially among the slot machine addicts. She tells Michael Lewis why many of those who play slots actually hate to win. And she talks about how the digital overhaul of Vegas has made all forms of gambling, including sports gambling, more like slots. For further reading: Addiction by Design: Mach
Episode 10: “Anybody Can Win, but Everybody’s Gonna Lose”
Perhaps you have someone in your life who’s prone to sports gambling. Michael Lewis has someone. So he comes up with a scheme to “inoculate” his 17-year-old son against the lure of placing bets online. All the while, Lewis tries to craft the perfect “master class” for would-be gamblers to understand the dangers of what they might be getting themselves into. Here's his
Episode 9: Framing the Gambler
Michael Lewis gets a glimpse of sports gambling's future by talking with writers in Great Britain and Australia, where the industry is even more entrenched. But the US has its own peculiar history of failing to regulate dangerously addictive new products, and blaming the users instead. Especially when powerful industry advocates are able to pay scientists to sow doubt and delay the day of reckonin
Episode 8: The Integrity Landscape
Has betting based on inside intel on games gone down since sports gambling was legalized in the US? Not really, as Michael Lewis finds out. But what's gone up is misery for athletes. We hear from Atlanta Hawks forward Larry Nance, Jr. about the rage, threats and wheedling that pro athletes now endure. The NCAA, former Massachusetts governor Charlie Baker, is trying to protect student athletes on c
Michael Lewis on the Prof G Pod
Just recently, Michael Lewis was a guest on the "Prof G" podcast with Scott Galloway. He talks about the rise of sports betting and why the consequences might be a "disaster" for US society. And the two discuss the subject of Lewis's latest book, "Going Infinite." See omnystudio.com/listener for privacy information.
Vegas Sports Bookies on Old-School Betting
On a visit to Las Vegas, Michael Lewis meets three old-school sports bookies. Chris Andrews, Jimmy Vaccaro, and Vinny Magliulo book bets and set odds at the South Point Hotel Casino. They talk about how they got started in Vegas, the origins of the prop bet, and why it's bad for business to limit smart bets.See omnystudio.com/listener for privacy information.
Gambler Billy Walters on the Sharp's Life
Michael Lewis sits down with Billy Walters, one of the most famous sports bettors of all time. They talk about Walters' impoverished childhood in Kentucky, and his transformation from an auto dealer to a professional poker player in Las Vegas to a sobered-up millionaire who's been indicted five times. For further reading: Gambler: Secrets from a Life at Risk by Billy Walters.See omnystudio.com/lis
Episode 7: Little Big Short
As a resident of California, Michael Lewis cannot place bets on any of the online sports books at the center of this season. They’re not allowed to operate in the state. But why? We hear from pastors, Native Americans and short-sellers about why a handful of states are still holding out, and why those efforts are most likely doomed. For further reading: Steve Ruddock’s gaming newsletter Straight t
Episode 6: VIP
What does it mean to be a “very important person” in the world of online sports betting? Not necessarily what you think. We hear from recovering gambling addicts and state regulators frustrated with some of the perverse incentives to keep people on a losing streak. Meanwhile, our show’s own producers hope for a VIP night at the concert of the year. For further reading: Legalizing Sports Gambling W
Episode 5: The Mule
The role has many names: “Runner,” “mover,” “betting partner,” and “mule.” As skilled sports gamblers find themselves limited on apps, they turn to these affiliates to place their bets in return for a piece of the proceeds. Against the Rules decides to explore this murky world by signing up for mule-dom with one of the world’s most skilled sports bettors.See omnystudio.com/listener for privacy inf
An Interview with Ted Olson
Constitutional lawyer and former US Solicitor Ted Olson recently died at the age of 84. Olson represented the state of New Jersey in its efforts to overturn a federal ban on sports gambling. Those efforts succeeded, as we hear in our episode "Welcome to the Garden State." But Olson and Michael Lewis talked about many other aspects of his vivid legal career. We're offering their full conversation t
Episode 4: A Hard Way to Make an Easy Living
Michael Lewis heads to Las Vegas to explore the way sports betting used to work, up until the day it was rapidly legalized by states around the country. We meet the betting sharps who figured out what others couldn’t and set the odds for other bookies. That is, up until everyone seemed to have a casino on their smartphone. But the new online casino differs from the old ones in an important way: It
Nate Silver on the Risky Business of Sports Betting
As the US election nears, Michael Lewis sits down with Nate Silver, co-host of the Pushkin podcast Risky Business (along with the writer, psychologist and professional poker player Maria Konnikova). They talk about why people bet on elections, the problem with sports gamblers in the United States, and Silver’s new book, On the Edge: The Art of Risking Everything. See omnystudio.com/listener for pr
Marci Cottingham on the Religious Passion of Steeler Nation
Is there a difference between fandom and religion? In Pittsburgh, it can be hard to tell. Fans of the city’s football team, the Pittsburgh Steelers, seem to have a cradle-to-grave devotion, complete with a golden relic, the “terrible towel.” Michael Lewis talks with sociologist Marci Cottingham, a native of Steeler Nation, about her work studying the religious overtones of fandom, and why the posi
Alison LaCroix on How History Rhymes at the Supreme Court
It may seem like sports gambling got legalized overnight in the US. But it was in fact a winding road to get there. Michael Lewis speaks with legal historian and University of Chicago professor Alison L. LaCroix about all the factors that led to the Supreme Court overturning, in 2018, a federal law called the Professional and Amateur Sports Protection Act. And they explore why, in some eras of US
Episode 3: Welcome to the Garden State
How did we get from fantasy sports to legalized sports betting? The path is convoluted, but most of it winds through New Jersey. Michael Lewis speaks with former governor Chris Christie, among other Jersey politicians, as well as lobbyists for the gaming industry. Plus we hear from Ted Olson, the lawyer who kept bringing the Garden State’s constitutional challenge until it finally reached the Supr
Episode 2: Values of the Game
Bill Bradley was already famous in college as the epitome of certain American virtues: integrity, honesty, and athleticism. As an NBA star, he took those virtues to the big leagues. As a US Senator, he had a chance to codify some of them into law and prevent the rise of sports betting. But at the same time, others in Bradley's state were making huge money on this illicit form of gambling. For furt
Episode 1: What’s Wrong with Eric?
Sports fans experience incredible highs and lows, and spend loads of money on a product over which they have no control. But for a long time, no one bothered to study the minds or impulses of fans. Michael Lewis finds out how that's changing as writers and academics learn more about the powerful psychology of fandom. Just in time for technology to exploit fandom more than ever. For further reading
Against the Rules: Fans
Against the Rules is going to Vegas (by way of New Jersey!). Host Michael Lewis bets high and low to find out how Americans, and their state governments, got addicted to a new form of legalized gambling. This season, we’ll meet bookies, lobbyists, lawyers and professional sharps. All in their own ways trying to figure out why fans might hitch their life savings to their favorite team’s performance
Judging Sam: The Sentencing
Sam Bankman-Fried was sentenced to 25 years in prison after being convicted of fraud and conspiracy. Michael Lewis and Lidia Jean Kott were there in court. They talk about what happened with Judging Sam’s legal expert, Rebecca Mermelstein, a former federal prosecutor and partner at O'Melveny and Myers.See omnystudio.com/listener for privacy information.
Judging Sam: Judging the FTX Bankruptcy
While Sam Bankman-Fried has been on trial, the cryptocurrency exchange he founded, FTX, has been going through bankruptcy proceedings. Jonathan Lipson, a professor at Temple Law School, tells Michael Lewis that he believes the proceedings have highlighted problems with the US bankruptcy system. Jonathan Lipson’s research paper “FTX’d: Conflicting Public and Private Interests in Chapter 11” is for
Judging Sam is Coming Back
This fall we covered the trial of Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX. He was found guilty of fraud and conspiracy and could face decades in prison. Now, we are covering his sentencing. Check here for those episodes starting the week of March 25th.See omnystudio.com/listener for privacy information.
Michael Lewis on Freakonomics Radio
Enjoy this episode of Freakonomics Radio, where Michael Lewis sat down with Stephen Dubner to discuss his book “Going Infinite: The Rise and Fall of a New Tycoon.” Description from the original episode:Lewis got incredible access to Sam Bankman-Fried, the billionaire behind the spectacular FTX fraud. His book is a bestseller, but some critics say he went too easy on S.B.F. Lewis tells us why the
The Rise and Fall of Crypto Billionaire Sam Bankman-Fried from Talk Easy
Enjoy this episode from another Pushkin Industries podcast, Talk Easy with Sam Fragoso. Upon taking a walk with crypto billionaire Sam Bankman-Fried, writer Michael Lewis had a sense that there might be a story here. In the intervening two years, that story has taken a series of twists and turns, resulting in Lewis’ new book Going Infinite: The Rise and Fall of a New Tycoon. At the top, we walk th
Judging Sam: Millennial Frauds
Lidia Jean Kott talks to journalist Elizabeth Lopatto about what it was like to cover the trial, the similarities it shared with Elizabeth Holmes’ trial, and what this all says about millennials, fraud, and the future of the tech industry. This conversation was recorded on November 13. Questions for Michael? Submit them by clicking the link in our show notes or visiting atrpodcast.com To access b
Judging Sam: The Aftermath
It's all over. Sam Bankman-Fried was found guilty on all seven counts. But what now? Michael Lewis, Lidia Jean Kott, and Judging Sam’s legal expert, O’Melveny defense attorney Rebecca Mermelstein, reflect on the outcome and look ahead to sentencing, SBF's other legal troubles, and the fate of the cooperating witnesses. This conversation was recorded on November 7. Questions for Michael? Submit the
Judging Sam: Guilty on all counts
The jury, after about 4 and a half hours of deliberation, has delivered its verdict – guilty on all seven counts. Lidia Jean Kott was in the courtroom when it happened. Her conversation with financial reporter Jacob Goldstein was recorded on November 2. Questions for Michael? Submit them by clicking the link in our show notes or visiting atrpodcast.com To access bonus episodes, and to listen to al
Judging Sam: The jury's job
CORRECTION: In an earlier version of this episode, our guest incorrectly stated that in the case of a hung jury, a defendant cannot be retried without risking double jeopardy. This is incorrect. If the jury hangs, then the defendant can be retried. We have edited the episode to remove this and apologize for the error. It’s nearly time for the jury to begin their deliberations. They’ll file into a
Judging Sam: The Hail Mary That Wasn’t
We're finally in the home stretch. Today the prosecution finished their cross examination of Sam Bankman-Fried, the defense followed up with a redirect, and then both sides rested. It’s Michael’s last day at court, but Lidia Jean will attend until the bitter end. They sit down to talk through the trial day’s events. This conversation was recorded on October 31. Questions for Michael? Submit them b
Judging Sam: Sam Bankman-Fried Faces Cross-Examination
Sam Bankman-Fried finishes direct and faces withering cross-examination by the government’s chief prosecutor, Danielle Sassoon. Michael Lewis and Lidia Jean Kott share notes during lunch, then Lidia Jean sits down with Pushkin financial reporter and host Jacob Goldstein to talk through the day’s events. This conversation was recorded on October 30. Questions for Michael? Submit them by clicking th
Judging Sam: Sam Bankman-Fried Takes The Stand
The day is finally upon us: Sam Bankman-Fried takes the stand. Michael Lewis and Lidia Jean meet up after a long day in court and discuss everything that went down. This conversation was recorded on October 27. Questions for Michael? Submit them by clicking the link in our show notes or visiting atrpodcast.com To access bonus episodes, and to listen to all of our coverage ad-free, sign up for Push
Judging Sam: Michael Lewis comes to court
Michael Lewis finishes his book tour and joins Lidia Jean Kott in court. His timing, as usual, is impeccable. The government rests its case. And then, everyone thinks Sam Bankman-Fried will take the stand. Instead, in a surprise twist, Judge Kaplan sends the jury home. LJ and Michael meet up on the courthouse steps to talk through the day’s events. This conversation was recorded on October 26. Qu
Judging Sam: After The Prosecution Rests
After a few days off, the trial resumes tomorrow, October 26. The prosecution has said they will likely be ready to rest their case by midday. Michael Lewis, Lidia Jean Kott and Rebecca Mermelstein, a partner at the law firm O’Melveny & Myers, sit down to analyze the prosecution’s case and talk about what might happen next, including the possibility of Sam Bankman-Fried taking the stand. This
Judging Sam: An FTX Victim Speaks Out
Voices of the victims of Sam Bankman-Fried’s alleged crimes have been few and far between during the prosecution’s presentation of its case. On today’s show, Lidia Jean Kott sits down with Jake Thacker, a tech worker from Portland, Oregon who borrowed money to bet big on FTX, only to be left holding the bag. He says he’s now bankrupt and unsure whether he’ll be able to keep his home. This convers
Judging Sam: Week 3 is in the books
Another week come and gone, and like everything SBF, it wasn’t without a healthy dose of drama. Lidia Jean Kott catches Michael Lewis and Jacob Goldstein up on all that has gone down. This conversation was recorded on the evening of October 19. Questions for Michael? Submit them by clicking the link in our show notes or visiting atrpodcast.com To access bonus episodes, and to listen to all of our
Listen Now: Spellcaster - The Fall of Sam Bankman-Fried
When nerdy gamer Sam Bankman-Fried rocketed to fame as the world’s richest 29-year-old, he pledged to donate his billions to good causes. But when Sam's crypto exchange FTX collapsed, billions of dollars went missing, and Sam was in handcuffs, those who knew him were left wondering — who was Sam really? A well-meaning billionaire who made a mistake? Or a calculated con man? From Wondery and Bloomb
Judging Sam: Michael Lewis Talks Money with Matt Levine
Today on the show, Michael talks with Matt Levine, business columnist at Bloomberg News and author of the newsletter “Money Stuff.” Matt knows more about how crypto markets work than just about anyone else. And also about how they don’t work. Like when there’s a more than eight billion dollar hole nobody seems to have been able to fill. Matt and Michael talk trial, SBF and FTX. This conversation
Judging Sam: Nishad Singh Takes the Stand
It was supposed to be a quiet Monday in court, but it turned out to be everything but. Nishad Singh, a former top executive at FTX, and a close personal friend of the Bankman-Fried family took the stand. Lidia Jean calls Michael Lewis from court during her lunch break to get his take on Singh, and updates us with the latest as the SBF trial enters its third week. This conversation was recorded on
Judging Sam: Week 2 Catch-up with Michael Lewis
Week 2 of Sam Bankman-Fried’s trial is in the books. The prosecution has called witnesses, including star witness Caroline Ellison, and the defense has cross-examined. There have been dramatic, emotional moments, a secret recording and laughter in the overflow rooms. Lidia Jean has been in court, and Michael has been on book tour. In this episode they catch each other up. Michael is curious how th
Judging Sam: Ellison Testimony Wraps Up
Caroline Ellison, former co-CEO of Alameda Research and Sam Bankman-Fried’s ex-girlfriend, spent 3 days on the stand this week. Ellison recently pled guilty to financial fraud, and is cooperating with the prosecution. In this episode Lidia Jean Kott discusses Caroline’s testimony with Jacob Goldstein, financial reporter and author of the book Money. This conversation was recorded in the evening o
Judging Sam: Caroline Ellison Takes The Stand
Caroline Ellison, former co-CEO of Alameda Research and Sam Bankman-Fried’s ex-girlfriend, takes the stand and has a lot to say. Ellison recently pled guilty to financial fraud, and is cooperating with the prosecution. In this episode Lidia Jean Kott discusses what came up on Day 1 of Caroline’s testimony with Jacob Goldstein, financial reporter and author of the book Money. This conversation was
Judging Sam: Catching up with Michael Lewis
Week 1 of Sam Bankman-Fried’s trial is in the books. The jury is seated, opening statements have been given, and witnesses are taking the stand. Lidia Jean has been in court, and Michael has been on book tour. In this episode they catch each other up. Michael wants to know what it’s like inside the courtroom, and Lidia Jean is curious about what new information Michael is learning. This conversati
Judging Sam: Opening Statements
SBF’s trial has been on for three days, and a lot has happened: jury selection, opening statements, and the first witnesses. Pushkin co-founder Jacob Weisberg sits down with reporter Lidia Jean Kott and Rebecca Mermelstein, a partner at the law firm O’Melveny and Myers, to talk about what’s happened in court so far. This conversation was recorded on October 5 at 3 pm ET. Questions for Michael? Sub
Judging Sam: Jury Selection
The trial of former FTX CEO Sam Bankman-Fried got underway yesterday in the Southern District of New York. First order of business? Empanelling a jury. Reporter Lidia Jean Kott was there. To get more insight into how jury selection works, Lidia Jean sat down with trial consultant Ellen Leggett. Their episode was recorded on October 2 at 6pm ET, with an update after court on October 3. Questions fo
Judging Sam: The Case Against SBF
Sam Bankman-Fried's trial starts today in the formidable Southern District of New York, with Judge Lewis A. Kaplan presiding. If convicted, the former multi-billionaire and CEO of crypto exchange FTX could spend the rest of his life behind bars. In this episode, Michael talks with court reporter and producer Lidia Jean Kott and former Southern District of New York prosecutor Rebecca Mermelstein, n
Judging Sam: Going Infinite – Jacob Weisberg interviews Michael Lewis
For the past year and a half, journalist Michael Lewis has been following crypto entrepreneur and former CEO of FTX Sam Bankman-Fried. The resulting book, "Going Infinite: The Rise and Fall of a New Tycoon", is out October 3. When Michael started his reporting, SBF was heralded as a wunderkind, a genius, a crypto innovator, a major philanthropist and political donor. Now, Sam Bankman-Fried is stan
Judging Sam: The Trial of Sam Bankman-Fried
Just a year ago, Sam Bankman-Fried was heralded as a wunderkind, a genius, a crypto innovator, a major philanthropist and political donor. He was worth tens of billions of dollars. FTX, the crypto exchange he founded, was buying Super Bowl ads. Now, he’s standing trial on multiple fraud charges. If convicted, he could spend the rest of his life behind bars. “Judging Sam: The Trial of Sam Bankman-
On Background: Preparing for Sam Bankman-Fried's Trial
The former CEO of now-bankrupt crypto firm FTX, Sam Bankman-Fried has been charged with fraud and conspiracy. His trial is supposed to begin in October. In the final episode of On Background, Michael Lewis speaks to former prosecutor Rebecca Mermelstein, now a defense attorney with O’Melveny and Myers, about how prosecutors are building the case against Bankman-Fried, and how his defense team can
The Sudden Celebrity of Sir John Knight from Revisionist History
In the battles over gun rights, a shadowy English nobleman from the 17th century has unexpectedly taken center stage. Who was he? What did he do that has — 300 years later — endeared him to a generation of legal scholars? Revisionist History explores the cult of personality around the mysterious Sir John Knight. Enjoy this episode from Revisionist History, another Pushkin Industries podcast.See om
On Background: The Political Spender America Deserves
During the 2022 election cycle, crypto mogul Sam Bankman-Fried gave as much as $40 million in political donations. That whopping sum caught the attention of campaign finance watchdogs, even before Bankman-Fried was arrested and charged with various financial crimes. Michael Lewis talks to Jordan Libowitz of the Campaign for Responsibility and Ethics in Washington (CREW) to understand the complex w
On Background: Who Buys Distressed Assets?
Andy Mitchell could be called a "doctor for business." His firm, Lantern Asset Management, buys up businesses in immediate need of cash and willing to sell at bargain-basement prices. Michael Lewis calls up Mitchell to get the "distressed asset" angle on the company at the center of Lewis's next book: the now extremely distressed crypto exchange, FTX. But along the way, we hear about other busines
On Background: Effective Altruism Still Has Friends
One-time crypto-currency king Sam Bankman-Fried was a big proponent of a philosophical movement known as “effective altruism,” or EA. Advocates of EA say we should use data and reason to find the best ways of doing good. EA’s popularity grew as investors like Bankman-Fried used it to guide generous donations to causes. Micheal Lewis speaks with two college students who got involved in effective al
On Background: Crypto Skeptic Proven Right
If you spend any time reporting on the world of crypto currency and Bitcoin, then you’re going to run across the name Molly White. She’s a software engineer who has been called "the cryptocurrency world's biggest critic." Michael Lewis gets her on the line for a lively conversation about why she spotted hucksterism and fraud early on in crypto's rise. Questions for Michael? Submit them by visiting
On Background: A History of Bankruptcy in the US
Often when a corporation declares bankruptcy, that happens at the end of a long and difficult road. But entering bankruptcy proceedings also means setting out on a new and equally difficult road. That’s where Michael Lewis finds the subject of his next book, Sam Bankman-Fried. The company Bankman-Fried founded, FTX, entered bankruptcy late last year. For some perspective on what could be one of th
On Background: White-Collar Crime and Punishment
Why do people commit white-collar crimes? And how has the way we think about — and prosecute — white-collar criminals changed over time? As part of the background research for his next book, which is about Sam Bankman-Fried and FTX, Michael Lewis wants the historical view of financial fraudsters, embezzlers and Ponzi schemers. So he speaks with Eugene Soltes, professor at the Harvard Business Scho
On Background: Bad Actors on the Blockchain
For his next book, Michael Lewis wants to find out how investigators manage to trace the murky trail of illicit crypto. Cryptocurrency started with the dream of cash changing hands without a trace. But that dream has turned into a nightmare for many would-be criminals. A new field has emerged of data geeks and law-enforcement experts trying to find out who’s behind transactions on the blockchain.
On Background from Against the Rules
Michael Lewis's next book is all about Sam Bankman-Fried, founder of the crypto-currency exchange FTX, who now faces federal charges. As with all of his books, Lewis is talking with experts to get background context on the world his characters inhabit. For the first time, these interviews will be recorded, on the record.In this special monthly series from Against the Rules, we'll hear Lewis in con
Episode 7: The Person Who Knows
The United States had a pandemic plan. But when a pandemic came, we hesitated to follow it. The country was hobbled by argument and doubt. Much of that doubt came from experts who proposed that Covid might not be as lethal as scientists feared. Michael Lewis returns to the subject of his latest book, The Premonition, to understand why it's so hard to trust the truest signs of expertise: a willingn
Episode 6: The Overconfidence Game
In which several people, including Rebecca Solnit, Katty Kay, and Maria Konnikova, help Michael understand the not-so-secret power of men to offer themselves up as experts, when they clearly are not. If you’d like to keep up with the most recent news from this and other Pushkin podcasts be sure to sign up for our email list at Pushkin.fm.See omnystudio.com/listener for privacy informati
Episode 5: The Sanchez Problem
There’s one kind of expert whose role is enshrined in law: that of the expert witness, who’s called on to bolster one side of a case. But courtrooms are not great places for nuance. Overconfident expert testimony has been linked to countless wrongful convictions, especially in gang-related cases. Michael speaks with a new kind of expert witness: former gang members who struggle to coun
Episode 4: Respect the Polygon
Experts know more now than ever before. And we’re more critical of them than ever before, too. But one kind of expert really gets us riled up: the type who deals in probabilities. We hear from meteorologists, political forecasters, and even nurses about why calculating the odds is so hard, and why we all suffer the deadly consequences as a result.If you’d like to keep up with the most recent news
Episode 3: Field of Ignorance
The right kind of expert, at the right time, can change everything. While working as a security guard at a pork-and-beans cannery in Kansas, Bill James started writing about baseball. But writing about it through the poetry of statistical analysis. It took a long time, but James's way of looking at the game changed more than just baseball.If you’d like to keep up with the most recent news from thi
Episode 2: The Art of the Untold Story
Why can’t we see the experts right in front of us, even when they're saving our lives? Maybe it's because the specialized knowledge of many experts defies good storytelling. We hear from a nonprofit trying to elevate the esoteric work of government experts, and we hear from one of their nominees. His work has changed the survival prospects for many lost at sea, but even those survivors have never
Episode 1: Six Levels Down
Athenahealth was just another healthcare provider facing the biggest problem US doctors face: not treating patients, but getting insurance companies to pay their bills. But then the company figured out how to fix the problem, by recognizing an overlooked expert toiling in the hospital basement.If you’d like to keep up with the most recent news from this and other Pushkin podcasts be sure be sure t
Against the Rules Season 3: The Ballad of Expertise
In “Against the Rules,” journalist and bestselling author Michael Lewis takes a searing look at what’s happened to fairness—in financial markets, newsrooms, basketball games, courts of law, and much more. In Season 3, Michael tackles America’s expert problem. Why is it so hard to figure out who the real experts are? And why, once we’ve found them, are they so rarely the people calling the shots?If
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19 Observations on mining and refining of critical minerals
1A
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