In "The Big Short," Michael Lewis explores the events leading to the financial crisis, particularly focusing on the role of subprime lending. He highlights the common narrative presented by Wall Street, which blames ordinary Americans for their financial troubles, painting them as dishonest and irresponsible. This perspective often serves to divert attention from the systemic issues within the financial industry.

Lewis challenges this viewpoint by emphasizing that the crisis was fueled by larger factors, including greed and a lack of accountability among financial institutions. He argues that while some individuals may have made questionable choices, the primary responsibility lies with those in powerful positions who created risky financial products and maintained an unsustainable system.