27 books like The Spider Network

As everyone knows at this point, anything Michael Lewis writes will be enormous fun to read, while being about something really important—something he’ll make you care about even if you didn’t when you started the book.

In this case, the subject is people who bet on the direction of mortgages (and thus, house prices), and how those who bet on a huge plunge were right. This book has an amazing cast of characters, all richly drawn: some are smart, some are not so smart; some are excellent schmoozers, some can barely tolerate human interaction; some care a lot about money, some care more about being right, especially if everyone else is wrong.

Each book I've recommended cries out to be made into a movie. This one actually was.

This is a beautifully written story about bankers who rise, and fall spectacularly – into crime, in this case insider trading, with the loss of money, status, and prestige that followed.

What’s particularly fascinating is the historical, ethnic, and sociological backdrop. The book begins with a scene in which Indian-born Rajat Gupta, having come to the US and ascended to the highest echelons of the US business world, was attending a White House dinner for India’s Prime Minister.

The book ends as some people who had been on top are dealing with the aftermath of trials that went very badly for them. The word “Shakespearean” has been used to describe this book, and aptly so.

No, this book is not by John Coates the corporate law professor. It's by another John Coates, who was a Wall Street trader and became a neuroscientist (!).

The descriptions of the physiology of risk-taking are not only fascinating in their own right but also deeply intuitive, and should be of enormous help to regulators trying to address banker misbehavior. They give the lie to the idea that simple stories—people are good or bad! It’s all about incentives!—can do a good job in explaining what happened.

This book makes clear that we have to understand the role of biology as well. People can’t just turn their risk-taking tendencies and reactions on and off at will. We’ve seen what happens when banks and regulators don’t take that into account.    

This book is a wry look at investment banking from the inside. The author, a banker and professor school professor, provides a rich and entertaining perspective on banks and bankers.  

The book captures an era when banks were changing dramatically, and, some might say, were getting less genteel. The author is really gifted at conjuring up and caricaturing some of banking’s pathologies.

I particularly loved the culminatory line in an account of junior analysts’ jobs in preparing “pitch books” – the analysts had to tout the bank’s “number one” status, and, scrambling to find something the bank was number one in, might fantasize about saying “We have 100% market share of all deals we did.”  

The book’s massive length is equivalent to about four modern novels, but it remains a fascinating read—even if I found few of the characters to be truly likable.

Like the Victorians themselves, Trollope’s writing style feels to me both old-fashioned and modern at the same time. To read this work today is to discover many similarities between their “now” (circa 1875) and ours.

Some things never change, including the chase for money and status, the societal traditions and prejudices that can be hard to overcome, and the ways lust and greed can upend just about any of our better human impulses.

I picked this novel for this list because it makes an interesting contrast to North and South, and not just because they deal with different levels of society (working class vs. “genteel”).

In Gaskell’s book, most of the characters are searching for moral high ground as they try to… show more.

Out of all the investigative reporting that emerged from the 2008 financial meltdown, Henriques’ account of the scheme that out-Ponzied Ponzi is the book that stays with me.

The Madoff story is about brazen lies and insatiable greed, to be sure, but Henriques’ approach is nuanced, thorough, yet accessible, showing the complacency (one might say complicity) of investors and regulators, dazzled or cowed by Madoff’s magic.

How do you pull off a $65 billion scam? With a lot of help. 

This is the best book I’ve read about the human dreams and failings of white-collar criminals.

With Soltes’ direct access to headline names—like Bernie Madoff, Jeffrey Skilling, and Marc Drier—I steeped myself in his profound research on our myths about “nurture vs. nature,” whether companies are inherently “good” or “bad,” and whether criminal behavior inside companies is performed by fundamentally “bad” people. The book taught me about the psyche of embezzlers and the conditions inside companies that influence their stealing. That knowledge took me beyond my own familial myths about George Hormel’s embezzler and enhanced my understanding of why he likely did his stealing.

The book also outlined the great impact of white-collar crime on families, companies, and our economy, leading me to a more nuanced understanding of southern Minnesota in the 1920s. History and humanity are woven together in whole cloth, and Soltes’ work allowed me to speculate about… show more.

A mysterious, melancholy narrative translated from French is rendered in stripped-down sentences, following a novelist, Mia, after a death in the family. The subsequent plot of subterfuge and corporate crime is so full and busy with knotty, overly complex occurrences that it begins to seem a deliberate distortion and exaggeration of the convention of plot itself. Through the character of Mia, the gifted Redonnet reports tragic and powerful occurrences in flat, clear prose that packs emotion just under the surface of the affectless sentences. The word “Candy” recurs hauntingly through the novel: as a song title, as the name of a character in a show, and as the name that Mia’s lovers call her. This slight novel leaves searing traces of emotional impact long after you read it.

Partnoy, a distinguished law professor at Berkeley, is a brilliant chronicler of the people and products in modern financial markets. One could read any of his books and say they were among the best ones on the market and corporate chicanery. But I love his first book, in which he tells the tale of his brief time trading derivatives—back in the very early days of those now world-famous products—among the unsavory characters of a Wall Street trading floor. The story has been told by others since (Wolf of Wall Street, Big Short, etc.) but Partnoy may have done it first. And seeing that world through his young, brilliant, and impressionistic eyes is wonderful. His firm tried to block him from publishing the book, but he did it and has gone on to a magnificent academic career in which he continues to tell it like it is, understanding the… show more.

Like The Departed or No Country For Old Men, Andy Greenberg’s book is a cat-and-mouse thriller in which tireless law enforcement officials chase shrewd criminals across the globe, eventually revealing the horrifying human toll left in their wake.

The cryptocurrency industry isn’t synonymous with crime, but it has facilitated vast amounts of illegal activity. Greenberg, however, shows that the unique qualities of the blockchain have also made it shockingly easy for the feds to chase down their targets.