Author Lewis says Wall Street reckoning is coming

Bestselling author Michael Lewis predicts Wall Street's biggest banks could be broken up by Congress in the coming year in an eventual reckoning over the financial meltdown of 2008. The "Liar's Poker" author said Tuesday a war will be waged in Washington as Senate Banking Committee Chairman Christopher Dodd tries to revamp U.S. financial rules. Lewis said: "There is a war that is about to happen over not just who regulates Wall Street but what the rules are," adding: "It is really a war over money." In Lewis’s latest book, "The Big Short: Inside the Doomsday Machine," he recounts the meltdown through the prism of a few Wall Street players who spotted flaws of the U.S. subprime mortgage market and made fortunes betting against it. Lewis said he wanted to make amends for his 1989 bestseller, which he wrote as a cautionary tale but that was seen by many as promoting greed-is-good. Source