If you run a big financial institution and you have the board in your pocket, and regulators want to be you; then swing for the fences, and risk be damned. Tavakoli explains how the global credit markets unraveled, how the investment banks disappeared, and how banking changed forever. She says there were no outliers, just outright liars. Tavakoli makes the case that they knew what they were doing and gives evidence that Warren Buffett gave public warnings about it. Tavakoli explains in clear language how the global financial markets through bad lending, risky products, borrowed money and fraud.