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…
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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. What happens when that trust erodes and we can no longer agree on what’s fair and what’s not?
In the latest season, Michael Lewis revisits the characters and context of his best-selling book on the 2008 financial crisis, The Big Short.
Do you have a question for Michael Lewis? Submit it HERE and tune in for new episodes of Against the Rules where he’ll be answering your submissions.
Most Recent Episode
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…
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…
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…
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…
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…
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…
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…
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.…
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…
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,…
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…
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…
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…
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 “innoculate” his 17-year-old son against the…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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.…
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…
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…
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…
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…
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…
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,…
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…
Judging Sam: The jury’s job
It’s nearly time for the jury to begin their deliberations. They’ll file into a backroom at the courthouse, and SBF’s fate will be in their hands. But what goes on…
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…
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…
Judging Sam: Prosecution Rests Its Case
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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.…
On Background: The Case Against Sam Bankman-Fried
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: 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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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.…
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…
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…
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…
Other People’s Money: George Saunders on the Value of Failure
After the surprise success of Liar’s Poker, publishers urged Michael Lewis to try his hand at fiction. It was a bad idea. But even award-winning fiction authors have struggled with…
Other People’s Money: Ira Glass on Finding Your Voice
Michael Lewis did not rest long on his laurels after publishing Liar’s Poker. In the 1990s, he hit the presidential campaign trail, writing a series of magazine pieces. Some of…
Other People’s Money: Anne Clarke Wolff on the Wages of Sexism
"Liar’s Poker" is set on a Wall Street where women were the last hired and first fired — and that was probably the least of their worries. Is Wall Street…
Other People’s Money: Dash Riprock and the Human Piranha Revealed
"Liar’s Poker" describes many of the mentors Michael Lewis had at the investment bank Salomon Brothers. Now for the first time, we get to hear their side of the story…
Other People’s Money: Jacob Goldstein and the Bonds of Wall Street
Michael Lewis and Jacob Goldstein discuss how "Liar’s Poker" foreshadowed the ups and downs of the world we live in now.
The Premonition
In this special bonus episode of Against the Rules, Michael Lewis reads a chapter from his new book about the pandemic, The Premonition —available now wherever books are sold. This…
Axios Today’s Niala Boodhoo Interviews Michael Lewis
President-elect Joe Biden and his team can now officially begin the transition of power. But President Trump's delay cost the new administration 20 days of highly valuable planning time that…
Aim Higher
Can everyone be coached — or are some people beyond help?The transformative power of coaching is put to the test as Michael enlists a coach to help him tackle his…
The Unfair Coach
Back when coaching didn’t do very much, it didn’t matter who got it and who didn’t. But coaching is clearly getting better and better, and spreading into more areas of…
The Data Coach
We explore the quantitative, scientific, and data-driven new frontier of coaching.Major League baseball is undergoing a coaching revolution from old-school to new tech. We talk to players whose careers were…
The Coach Effect
Colleges today talk a big game about valuing diversity — so why are so many of them failing to retain first-generation students?We meet a homeless straight-A track star and her…
The Coach in Your Head
Just about anyone today can call themselves a coach. Michael traces this trend back to its source and finds out that the secret to effective coaching lies not in retraining…
Don’t Be Good — Be Great
Michael revisits his high school days in New Orleans to tell the story of Billy Fitzgerald, the baseball coach who changed his life; and makes the case for the old-school,…
Against the Rules Presents: Michael Lewis in Conversation with Malcolm Gladwell and Jacob Weisberg
Michael Lewis interviews the co-founders of Pushkin Industries, Malcolm Gladwell and Jacob Weisberg, as part of Dell Technologies Small Business Podference, Hear what it’s like to start a business with…
The Invisible Coach
Credit card companies are making billions of dollars off of people who don’t understand the rules of the money game. Can a good coach help level the playing field?
Introducing Against the Rules Season 2
Journalist and bestselling author Michael Lewis (Liar’s Poker, Moneyball) takes a searing look at what’s happened to fairness. It feels like there’s less of it every day—whether it comes to…
Bonus Against the Rules: Help in a Crisis
While working on the next season of Against the Rules coming later this spring, Michael Lewis has had some conversations that we didn’t want to hold. Conversations with people who…
Bonus Live Episode: Michael Lewis and Malcolm Gladwell
Around the launch of Against the Rules, Michael spoke with his friend and co-producer, the author Malcolm Gladwell, at the 92Y in New York. Hear them talk about podcasting, referees,…
Baby Judge School
Judges now want us to know they’re human. But maybe we’d be better off if we didn’t know.
The Hand of Leonardo
The authenticator ref absolves everyone of blame. And sometimes generates money out of thin air.
The Seven Minute Rule
The government protects us from some dangerous products, but not from others that, over time, ruin countless lives.
Ref, You Suck!
Rage at referees is all the rage in professional sports. Michael Lewis visits a replay center that’s trying to do the impossible: adjudicate fairness.
Introducing Against the Rules with Michael Lewis
Get ready for the launch of Michael Lewis’s first podcast, where he takes listeners from student-loan call centers to the courts of Uzbekistan to the new trading hubs of Wall…
The Host
Michael Lewis
Michael Lewis, host of the podcast Against the Rules, has published many New York Times bestselling books, including The Fifth Risk, Flash Boys, and The Big Short. Movie versions of…
