Check it out. Malcolm Gladwell, New Yorker staff writer extaordinaire, has a blog. Hopefully, it’ll be as good as everything else he writes.
Every so often in a reader's life, he stumbles upon two books that complement each other like red meat and red wine. Such a happy accident befell me last month, when I happened to read Michael Lewis' Liar's Poker hard on the heels of Thomas Frank's One Market Under God.The Frank book, an evisceration of the free-market discourse and management culture of the 90s, was a fine read on its own: funny, incisive, and angry. And yet, in its argumentation, it at first struck me as inferior to Frank's more recent What's the Matter With Kansas? Like Lewis Lapham, who published excerpts from both books in Harper's, Frank has a tendency to preach to the choir. This often doesn't bother me; I sit right in the middle of that choir. When Frank demonstrates the tension between a free market and economic democracy, I say "Amen." When he decries the commodification of the counterculture, I shout "Hallelujah."When Frank gets down to naming names, however, I get uneasy. One Market Under God does not hesitate to lay the sorry state of the world at the feet of specific, individual evildoers, and I, raised to try to see the best in people, prefer to blame systemic ills. And so I'm not sure if Frank's depiction of scheming, iniquitous fat cats is a workable belief or a bit of populist wishful thinking.Or I wasn't sure, until I picked up Liar's Poker. Here Michael Lewis, himself a former stockbroker, takes us inside Salomon Brothers, the investment bank where he worked in the rip-roaring 80s. Lewis establishes his centrist credentials early and often, and generally eschews editorializing. It is especially appalling, then, (if weirdly engrossing) to discover that Salomon Brothers is full of...scheming, iniquitous fat cats!Liar's Poker is like a nonfiction version of Oliver Stone's Wall Street (IMDb). The visionary salesmen and traders of Solomon Brothers screw the little guy at every turn, and we get to see every dirty detail. They rip off investors, lie to the public, devalue successful companies, inflate worthless ones, lay off employees, throw phones at underlings, grope secretaries, consume conspicuously, and generally turn themselves into caricatures of the worst kind of capitalist exploitation. The free-market they promote is, in fact, far from free.In an ideal marketplace, knowledge is symmetrical. The vulgar version: buyer and seller are in possession of the same set of facts, and prices reach equilibrium according to the law of supply and demand. This is why there are laws against rolling back odometers, and against making false claims in advertisements. But investment banks, as Lewis portrays them, rely on the market's inefficiency at distributing information - its tendency to allow those most heavily invested in a market to control the flow of knowledge within and about that market - to buy below fair-market value, and to sell well above it.Of course, we are assured, such excesses have since been curbed by regulation. (This is part of the 90s market populism analyzed in One Market Under God, wherein Wall Street is brought to heel by Main Street.) Insider trading laws are now stringent, we are told; firewalls have arisen between the trading floors where commodities are sold and the equity departments where they are underwritten. But Wall Street is still raking it in, while Main Street drifts and eddies on stagnant wages.Perhaps the current investment bank bonanza is merely the financial industry's reward for its own newfound virtuousness. Still, the next time you hear an I-banker lamenting the regulatory climate, or claiming that Sarbanes-Oxley is driving all the moneymen to London, ask him what kind of bonus he got last year, and whether he's still living in New York. Then tell him you've got a bridge you're looking to sell...See also: Max's review of Liar's Poker
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Some quick observations: Bob Woodward's new book Plan of Attack is selling as fast as I have seen any book fly off the shelf in my two years at the book store: faster than Hillary and approaching Harry Potter levels. One time Millions contributor Kaye Gibbons has a new novel out called Divining Women. Early reviews are mostly good. On the other hand, the review that New York Times' "Madame" Michiko Kakutani gave Alice Walker's new book, Now Is the Time to Open Your Heart, is just about the most brutal I have ever seen in that paper. View the carnage hereIn Millions news, I'm heading to New York tonight. I'm in a wedding this weekend and there are other East Coast errands to run, so I probably won't be blogging much, if at all. I will, however, be checking the comments here as well as my email. I don't know how special this makes me, but I have been asked to be a trial user for Google's mega-hyped webmail service, GMail, so if you are curious about how well it works, feel free to drop me a line.
Michael J. Arlen's 1958 humor piece "Are we losing the novel race?" (which can be found in the New Yorker's anthology of humor writing) starts out thusly: "As if things weren't bad enough already, word has just reached me that the Russians have recently published a 1,600 page novel." The amusing little piece, published at the height of Cold War hysteria, spoofs both the nation's fear of an impending nuclear war and the literary world's longtime obsession with heft. The Cold War is over now, but people are still fascinated by really big books.The latest really big book is a 1,360 page debut novel called Hunger's Brides: A Novel of the Baroque by a Canadian named Paul Anderson. An article in the NY Times - which includes this quote from Anderson's publisher: "I told him, 'You can't not go there.' And that's how it got longer." - is dutifully descriptive on the subject of the book's size: "It weighs 4 pounds, 9 ounces, equivalent to two and a half copies of The Da Vinci Code, and it is thicker than Verizon's Manhattan telephone directory (either the white or yellow pages)." Luckily, the author seems to have a sense of humor about having published such a, shall we say, weighty book: his official Web site includes a slideshow of "safe reading positions". And if you're really curious, there are several excerpts up as well.
Garth has an essay on Amazon's celebrity reviewers up at Slate.Full disclosure: It was late at night, in a fit of furtive self-Googling, that I discovered the first Amazon customer review of my debut book of fiction. "Superb," wrote Grady Harp of Los Angeles. "Fascinating ... addictive." Not to mention "profound." Such extravagance should have aroused suspicion, but I was too busy basking in the glow of a five-star rave to worry about the finer points of Harp's style.Check it out.
There's an interesting story from the New York Times that describes a couple of fiction writers who are trying their hand at penning superhero comics. For Michael Chabon the move is the almost inevitable result of the success of his Pulitzer winner, The Amazing Adventures of Kavalier & Clay, which, within the narrative, contains a lengthy accounting of a comic book created by Kavalier and Clay, the book's main characters. The comic book is about a Houdini-like superhero called the Escapist, and considering how fascinating Chabon makes this fictional comic book sound, it's only fitting that fans would want to own the real thing. Also mentioned in the article is the writer of popular thrillers (The Zero Game), Brad Meltzer taking over the writing duties at the DC Comics series "Green Arrow." Another well-known fiction writer, not mentioned in the article, who has long been crossing the line between comics and fiction, is Neil Gaiman who first became known for writing a comic book series called The Sandman before making a name for himself writing fantasy novels like American Gods. I've always preferred newspaper funnies and graphic novels to the superhero stuff, but genre jumping like this can produce interesting results.
One of the most anticipated books of the summer is Cormac McCarthy's No Country for Old Men. The book will be out a week from Tuesday, and already it's pushing into Amazon's top 100. All spring there were reports of galleys (advance copies for reviewers) selling for a couple of hundred dollars on eBay. Rake's Progress posted a report from one of the lucky few who got their hands on the book early. Granted, this reader was posting to the Cormac McCarthy Society Web site, but still his review was glowing. Other glowing reviews have come in at PW and Booklist, and the newspaper book pages will weigh in soon. Perhaps most intriguing of all is the report that McCarthy, a notorious recluse, has given his first interview in 13 years, which will appear in the August issue of Vanity Fair.Booklist's starred review of Lydia Millet's satirical novel Oh Pure and Radiant Heart compares the book to "Twain, Vonnegut, Murakami, and DeLillo." Not bad. The novel opens in 2003 with reincarnation of three of the creators of the atomic bomb. After taking stock of the current state of the world, these scientists decide to work for disarmament, but the American military isn't too keen on that idea. Though the premise seems a bit high concept, reviewers are saying that she pulls it off.If you ever wanted to read a novel set in the exotic locale of Zanzibar, you're in luck. Lisa Kusel's novel, Hat Trick, is about two estranged friends who, by chance, happen to be reunited on the small island off the coast of Africa. Mona is there in her capacity as a powerful film producer, while Hannah is there looking for merchandise to sell in her store back home. The man who caused their split is there, too. Peter is a journalist who is writing about the star of Mona's movie, but he is in Zanzibar to be close to Mona, too. There are no major reviews out yet, but PW was positive about the book.Avner Mandelman's collection of short stories, Talking to the Enemy, won the Jewish Book Award when it was published in Canada, and now, Seven Stories Press has released the book in the US. Mandelman was a member of the Israeli Air Force and he fought in the Six Day War before moving to Europe and then to Canada. His collection looks at Israelis and Israeli emigres living in a culture of violence. As PW puts it: "With these agile, vernacular stories, Mandelman takes a clear-sighted yet empathetic view of a fraught nation."
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