The Big Short: Inside the Doomsday Machine

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Detective Michael Lewis on Goldman Sachs v. Sergey Aleynikov

The Big Short and Liar’s Poker author Michael Lewis investigates the case of Sergey Aleynikov, a computer programmer accused by Goldman Sachs of “violating both the Economic Espionage Act of 1996 and the National Stolen Property Act.” Is this the case of an international spy bent on stealing company secrets, or is this the case of an overzealous company taking revenge on an ex-employee, and using an ill-prepared government agency to do so?

A Year in Reading: Keith Gessen

At the beginning of 2010 I was in Ukraine, and trying to understand what was going on there. Two contemporary historians, both dissidents, helped explain. Georgiy Kasianov writes in Ukrainian, Russian, and English; his history of post-independence Ukraine (in Russian) is a great and funny book that bravely resists the nationalist narrative pushed forward by the Ukraine-for-Ukrainians lobby. In English his edited volume, A Laboratory of Transnational History, is recommended. It includes an essay by John-Paul Himka, a Canadian historian of Ukrainian origin who has for a number of years kept up a lonely moral crusade against the nationalist elements of the Ukrainian diaspora in North America. You would think the margin for historical error in a territory and period as finite as Western Ukraine during the Second World War would be pretty thin; you'd be wrong. I tend to read books in spurts. After Ukraine, I read a number of dystopian novels for an article I was writing. The best were Ishiguro's Never Let Me Go and Houellebecq's The Possibility of an Island. I preferred the Houellebecq. In fact, though Elementary Particles is still his best book, this one is his funniest. "In order to pass the time I told him the story of the German who ate the other German whom he'd met on the internet." Very funny. At this point, having settled again on American soil, I decided to figure out what was going on with our foreign wars. I read Rory Stewart's amazing and funny book about walking through Afghanistan in the wake of the American defeat of the Taliban in late 2001 (The Places In Between), and then Megan Stack's Every Man in This Village Is a Liar, which begins with her entering Afghanistan a bit earlier, right on the heels of the American invasion, tagging along with an Afghan warlord who will eventually try to sneak into bed with her. Stack's book was so good that I could hardly believe it, so I read Dexter Filkins' Forever War just to check. It was also very good. Forever War has more bombs exploding; Every Man has more of a comparative sweep. At this point, almost without intending to (I was waiting for someone to give me their copy of Freedom), I read Ian Frazier's funny, epic, surprising Travels in Siberia. Then I read Freedom, which is as good as everyone says it is. Reading Frazier and Franzen back to back underscored, first, that they have quite similar names, and, second, the deeply Midwestern quality of Freedom. There's a great passage at the end of the Siberia book in which Frazier talks about how his father used to berate him, back in his Ohio childhood, for living such a sheltered existence and knowing nothing about the rest of the world. This is a uniquely American, perhaps American-suburban, prejudice--the idea that Ohio couldn't possibly be further away from, say, Siberia. What Frazier points out, in his quiet, uninsistent way, is that the center of the most economically powerful nation on earth can't pretend that it's far away from anywhere, much less one of the world's largest oil-producing regions, which is what Siberia is. It seems that a deep awareness of the truth of this--of the interconnection of the American suburbs and the rest of the world--is one of Franzen's important contributions to American fiction and American self-understanding over the past ten years. In June, my book of interviews about the financial crisis with a hedge fund manager was coming out, and I realized I still knew nothing about the financial crisis. I read as fast as I could to avoid humiliation. Many of the books were bad. Their authors had the difficulty of writing from another country--like the Ukrainian historian Kasianov, who writes partly for Russians--but in a language that the people in that other country (that is to say, us) didn't know. So they could either pretend that we knew it already, or treat us like idiots. They did a bit of both. The Michael Lewis books--his newest, The Big Short, and his oldest, Liar's Poker--stood out among all these for their clarity and wit, although I should add that I haven't yet read John Lanchester's I.O.U. or Yves Smith's ECONned, both of which are supposed to be good. When the HFM book came out, I did mostly manage to aovid humiliation--for example, by sleeping through a scheduled radio interview. But non-humiliation was not enough. I decided to get to the bottom of things by reading Capital. But I couldn't understand it. I began to read around Capital--David Harvey's Limits to Capital; Peter Singer's Marx; Immanuel Wallerstein's Historical Capitalism; Michael Harrington's The Twilight of Capitalism; Edmund Wilson's To the Finland Station. The only one I really got through (aside from the Wallerstein book, which is like 100 pages long because he uses no examples) is To the Finland Station. I'd inherited the notion somewhere or other that Wilson's book wasn't first-rate as intellectual or political history. This is untrue. Of all the secondary sources on Marx, it has been the most valuable to me. It will certainly always be the most entertaining. It gives a different kind of genealogy of Marx, through the French historians rather than the German idealists, and also it has a beautiful and sympathetic account of the relationship between Marx and Engels. Just a lovely book, almost as good as Parallel Lives. At around this time, about a month ago--and still stuck about a third of the way through the first volume of Capital--I concluded that I would never understand Marx's obsession with the concept of "price" until I went back to Adam Smith and the original formulation of the theory of price that Marx is taking issue with. So that is where you find me today, about a fifth of the way through the first volume of The Wealth of Nations. Maybe a quarter of the way. Other great books I happened to read that came out in 2010 were Elif Batuman's The Possessed; Sam Lipsyte's The Ask; and Zachary Mason's The Lost Books of the Odyssey. I recommend all three without reservation; they are instant classics. Another book I think everyone ought to read is Thomas Chatterton Williams's Losing My Cool. It's a complex, very honest, very entertaining memoir about a young man's education that has not received anything like the serious consideration and discussion it deserves. And a final book I recommend from 2010 is And the Heart Says Whatever, by my very witty girlfriend, Emily Gould. More from a Year in Reading 2010 Don't miss: A Year in Reading 2009, 2008, 2007, 2006, 2005 The good stuff: The Millions' Notable articles The motherlode: The Millions' Books and Reviews Like what you see? 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Matt Taibbi’s Class Warfare is Truthy and Depressing

In his new book, Griftopia, Matt Taibbi tries to portray America as a thieve's paradise, where foreign and domestic moneyed interests fleece the rest of us in the open and we are powerless to resist.  Taibbi covers politics and, more recently, the financial crisis for Rolling Stone, and Griftopia is primarily a compilation of his recent feature stories.  It’s an entertaining but ultimately frustrating and unsatisfying read, long on adjectives and invective but sorely lacking depth of analysis or reporting.  Ultimately, Taibbi undermines himself: his assertions of fact, even regarding core points, often are colored past reality and occasionally are simply, provably wrong, discrediting the wild-eyed conclusions he reaches based on them. Prior to the financial crisis, some of Taibbi’s best-known work, collected in previous books, involved politics and campaigns.  This work, in tone as much as subject matter, implicitly invokes that of Hunter S. Thompson, who famously covered politics for Rolling Stone during the Nixon years, although Taibbi’s book on the 2004 campaign, Spanking the Donkey, pales in comparison to Fear and Loathing on the Campaign Trail ’72, probably the high point of Thompson’s career.  Thompson’s stories often were filled with foul-mouthed, fractured and impossibly weird or vile allegations regarding its subjects, expanding or exploding reality to reflect some otherwise-inaccessible greater Truth.  There doesn’t seem to be any greater Truth beyond the paranoia of Taibbi’s furious language, but in these Glenn Beck and Stephen Colbert days, what does it matter?  Fear sells. The emotional core of the book lies in a rant that closes a chapter describing the creation and progression of the mortgage crisis: At the tail end of all this frantic lying, cheating, and scamming on all sides, … the final result is that we all ended up picking up the tab, subsidizing all this crime and dishonesty and pessimism as a matter of national policy. We paid for this instead of a generation of health insurance, or an alternative energy grid, or a brand-new system of roads and highways. With the $13-plus trillion we are estimated to ultimately spend on the bailouts, we could not only have bought and paid off every single subprime mortgage in the country (that would only have cost $1.4 trillion), we could have paid off every remaining mortgage of any kind in this country -- and still have had enough money left over to buy a new house for every American who does not already have one. But we didn't do that, and we didn't spend the money on anything else useful, either. Why? For a very good reason. Because we’re no good any more at building bridges and highways or coming up with brilliant innovations in energy or medicine. We're shit now at finishing massive public works projects or launching brilliant fairy-tale public policy ventures like the moon landing. What are we good at? Robbing what's left. When it comes to that, we Americans have no peer. Well, if he’s right, then America is truly Fucked.  Time to hit the road, bub.  Luckily for us, however, Taibbi is dead wrong about the $13 trillion figure, and, as a result, America may not be hopeless after all. Sure, it’s been reported that the total potential cost of the bailouts is $12.8 trillion, true, but the crucial word there is “potential.”  $12.8 trillion is the potential total cost if every dollar the government pledged or loaned were actually paid out and never paid back. But that's not what's happening.  Much of the money loaned already has been repaid, and on some of the constituent “bailouts,” the government actually may make a profit.  And, likewise, much of the money used to guarantee assets will never be tapped.  This is a good thing for America.  And it’s also a distinction that a professional reporter who has been knee-deep in the financial crisis should have recognized before proclaiming the moral bankruptcy of the country.  It would be a devastating passage if it weren’t fundamentally untrue. Look, I agree with Taibbi, at least in spirit, on some issues he raises, but if you're going to be caustic and depressing and a brutal buzzkill I think you have a responsibility to make sure your facts are correct, especially a fact that forms the crux of both the chapter it ends and of the central depressing accusations of the entire book.  And because the subjects Taibbi covers – securitized mortgage instruments, the commodity markets, etc., -- are hyper-complex, I had trouble putting any faith in Taibbi’s understanding and descriptions of the details once I noticed that he whiffed on a few of those that I already understood. Taibbi carries his populist flag throughout the book, and in the final chapter acknowledges proudly that class warfare is one of his goals while asserting that those who panned his Goldman Sachs article were with Them in this great battle, and not Us, claiming that the criticisms of his piece amounted to nothing more than a defense of “class privilege.”  Like so much else in Griftopia, this is fun and entertaining, sure, but lazy.  Had Taibbi’s article been about “class privilege” and seriously wrestled with the structure and institutions of the American economy that led to the problems he identified, it explicitly or implicitly would have suggested solutions.  Instead, Taibbi aims for the fattened ducks operating the levers of power rather than the levers themselves: he seems quite proud, for example, of publicly calling Goldman chief Lloyd Blankfein a “motherfucker.” Griftopia portrays America as a ghetto being looted by evil drug lords, but a simpler explanation of the financial crisis, to me at least, seems to be the economics of laziness and arrogance.  Laziness in entering a trade that is working (here, seemingly safe mortgage bonds) not because it makes sense but because it is easy and arrogance in assuming that you will know precisely when to get out.  And the evidence from the last bubble (and the tech bubble before that) seems to be that as good as these Wall Street folks may have been at riding a massive wave to shore, few knew how to pull off before the wave broke. On Griftopia’s back cover, Taibbi’s publishers praise him via pull quote as supplanting Michael Lewis as the “King Writer of Wall Street.”  Not so fast.  Lewis’s most recent book, The Big Short, walks the reader through the last few years of economic crisis with a level head and enough detail to allow a reader to understand how decisions that almost brought down the world could have seemed so common sense at the time to those who made them.  Lewis’s book handles the complexity of the financial world with both grace and precision.  Taibbi’s approach is closer to a drunken swagger: seemingly smooth, but not necessarily precise. To be fair, Griftopia and The Big Short serve different audiences.  Taibbi’s book will be of greatest utility to those who know exactly what they think but aren’t quite sure why.  Lewis’s book well serves everyone else. Bonus Link: Stockholm Syndrome: Two Books on High Finance

The Millions Top Ten: September 2010

We spend plenty of time here on The Millions telling all of you what we’ve been reading, but we are also quite interested in hearing about what you’ve been reading. By looking at our Amazon stats, we can see what books Millions readers have been buying, and we decided it would be fun to use those stats to find out what books have been most popular with our readers in recent months. Below you’ll find our Millions Top Ten list for September. This Month Last Month Title On List 1. 1. Freedom 2 months 2. 2. The Thousand Autumns of Jacob de Zoet 4 months 3. 3. The Girl Who Kicked the Hornet's Nest 4 months 4. 5. Tinkers 5 months 5. 4. The Passage 3 months 6. (tie) 10. A Visit from the Goon Squad 2 months 6. (tie) 6. Faithful Place 3 months 8. 8. (tie) Out of Sheer Rage: Wrestling With D.H. Lawrence 4 months 9. 8. (tie) Super Sad True Love Story 2 months 10. - Room 1 month Summer favorites stayed firmly ensconsed on our list in September, but Emma Donoghue's Booker shortlisted Room managed to debut on the list in the tenth spot. Edan recently offered up a compelling review of the book in our pages. Meanwhile, the top three spots on our list remain unchanged from the prior month, with Freedom by Jonathan Franzen still in the top spot. Garth's review of the book was published here in August. Graduating to our Hall of Fame this month was Michael Lewis' The Big Short. Garth offered up a a look at the book and n+1's entry into the financial meltdown post-mortem genre earlier this week. Near Misses: The Girl Who Played with Fire, The Gone-Away World, War and Peace, Things We Didn't See Coming, The Imperfectionists. See Also: Last month's list

Stockholm Syndrome: Two Books on High Finance

From the far side of the Great Financial Meltdown, 1994's Speed, ostensibly just another popcorn flick, starts to look instead like a brilliant allegory. Pop quiz, hot shot: Dennis Hopper: "The airport. Gunman with one hostage. He's using her for cover. He's almost to a plane. You're a hundred feet away." Keanu Reeves: "Shoot the hostage." Don't see it yet? Consider: Keanu is the government, Hopper is the neoliberal consensus, the crazy person waving the Glock around is the financial industry, the bullet is two trillion dollars in losses, and the poor schmo being jerked hither and yon is you and me. Readers concerned to further understand the dynamics of our own particular hostage crisis would do well to look at a couple of more recent documents: The Big Short and Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager. Their charms are complementary. In the former, Michael Lewis, a Salomon Brothers alum, brings an insider's savvy to the subprime crisis. In the latter, N+1 (in the person of Keith Gessen) lends an outsider's ear to the brilliant disquisitions of a guy caught in the middle of it all. And read side-by-side these books do something even more valuable. They suggest that our captivity is at least partly in the mind - that even the most astute critics of what Lewis calls "The Doomsday Machine" have internalized some of the premises that made it possible. In the case of The Big Short, that suggestion feels accidental. Lewis (also the author of The Blind Side, among other bestsellers) knows that every good story needs someone to root for, and so, against the big New York investment banks, he fields a kind of Magnificent Seven of scrappy smaller investors. (Smaller is a relative term, of course; most of these guys have tens of millions of dollars of assets under management.) Most compelling is his central character, Mike Burry, a California-based hedge-fund principal with a glass eye and Asperger's syndrome. Burry, as Lewis tells it, was one of the only people in America with the acumen - and, thanks to the Asperger's, the patience - to evaluate the actual mortgage tranches underlying those now infamous "toxic assets." And, with our American admiration for an underdog, we cheer Burry on as he tries to find a way to monetize his discoveries before the subprime market collapses. Lewis explains with great lucidity how, via the esoteric financial instruments Burry engineers (or rather, has Goldman Sachs engineer) theoretically endless profits can be manufactured from a single piece of subprime paper, like Xeroxes from an original. What he never quite spells out, though, is that the huge profits Burry amasses shorting the subprime market also represent huge losses for his counterparties - and thus (by way of bailouts and layoffs) to taxpayers all over the world. Perhaps this is why the The Big Short, in the end, lacks a sense of moral payoff. It's as if the Wall Street Journal narrative of enterprise as an end in itself has gained traction not only with Burry, but with Lewis. At the very least, it says something that he takes as his hero of the financial crisis...a hedge-fund guy. Gessen is more explicit about the amorality of postmodern finance. In an introductory note about the anonymous hedge fund manager who is his subject (henceforth, and in the book, HFM), he laments "that a mind so excellent, so generous, so curious, should spend all its time on relative trading in foreign jurisdictions and yelling at people who refuse to pay him back. . . ." But in this note, as in the interviews that follow, we can feel him being seduced, as we are, by HFM's formidable intellect. Indeed, Gessen wants us to feel that seduction. HFM's mind is "excellent" - and makes for excellent reading. Listening to him discourse on capital flows, currency speculation, real estate, literature, and hedge-fund folkways is like taking a terrific college elective, minus the final exam: There's some people who think the problem is so bad that if you actually recognize the losses, that it's akin to smashing the equipment in the factory. Because these institutions can't exist anymore, right? That for a bank, if you say, "Look, you can't exist anymore. You're so deeply insolvent that everybody's fired and everybody's got to leave," at that point financial intermediation won't work anymore. It doesn't matter that you've marked everything down to the level that makes sense - you don't have a financial system anymore. And a lot of people think that's one of the reasons the Great Depression was so difficult to get out of, that the financial machinery was smashed. So I think which camp you fall into depends a little on how bad you think the damage is. Still, like Burry's, and perhaps even Lewis', HFM's is a captive mind. For all his candor about the causes of the financial crisis, he speaks from within a framework of essentially Friedmanite, free-market fundamentalism. As he's speculating about martial law and breadlines, his biggest worry remains not widespread unemployment, but...the possibility of inflation and its effect on currency values. (His concessions to Keynesianism seem to evaporate as the immediate crisis of the Lehman Brothers collapse recedes.) Nor does HFM appear to see the shenanigans of the financial sector as systemic, rather than as tokens of personal fraudulence on the part of unsavory "dirtbags." Gessen's interviewing strategy - to present himself as a novice in search of instruction - succeeds brilliantly, in that it gets HFM to open up in all kinds of compelling and admirable ways. On the other hand, it means that his macroeconomic premises tend to go unchallenged. Narratives about the horrors of stimulative deficit spending, in particular, have lately become a viral element in the body politic. As with New York's fiscal crisis of the 1970s, or the various currency collapses of the 1990s, the public is being set up to choose between punishment at the hand of "bond vigilantes" or draconian "austerity measures" designed to ward off default. Notice, though, that those bond vigilantes are the very people who got us into this mess in the first place. Notice that the rate of inflation reported a few days ago was essentially 0%. And notice that, if we accept the choice as it is being framed for us, the hostage is screwed either way. I invite you to think back to Speed. One of the first questions we're trained to ask about any narrative is whether the narrator is reliable. And if history has taught us anything, people, it's that Dennis Hopper is f-ing crazy. Bonus links: An excerpt from The Big Short A collection of HFM interviews from nplusonemag.com

Millions Top Ten: August 2010

We spend plenty of time here on The Millions telling all of you what we’ve been reading, but we are also quite interested in hearing about what you’ve been reading. By looking at our Amazon stats, we can see what books Millions readers have been buying, and we decided it would be fun to use those stats to find out what books have been most popular with our readers in recent months. Below you’ll find our Millions Top Ten list for August. This Month Last Month Title On List 1. - Freedom 1 month 2. 2. The Thousand Autumns of Jacob de Zoet 3 months 3. 4. The Girl Who Kicked the Hornet's Nest 3 months 4. 10. The Passage 2 months 5. 3. Tinkers 4 months 6. 4. Faithful Place 2 months 7. 6. The Big Short 6 months 8. (tie) 7. Out of Sheer Rage: Wrestling With D.H. Lawrence 3 months 8. (tie) - Super Sad True Love Story 1 month 10. - A Visit from the Goon Squad 1 month Three of the summer's biggest literary novels vaulted onto our list in August. Surprising probably no one, Freedom by Jonathan Franzen came out on August 31 and in one day was popular enough to debut at the top of our list. Two other literary superstars also debuted, Gary Shteyngart with Super Sad True Love Story, reviewed here, and Jennifer Egan with A Visit from the Goon Squad, reviewed and profiled here. Meanwhile, David Shields' controversial Reality Hunger ended its run on our list and graduated to the Hall of Fame. Shields wrote a spritied defense of his book for us and provided a supplementary and exhaustive reading list as well. Elsewhere, Stieg Larsson's second "Millennium" book, The Girl Who Played with Fire, got bumped from our list (though the trilogy's final book remains firmly ensconced), as did weighty fave War and Peace. Near Misses: The Girl Who Played with Fire, War and Peace, The Imperfectionists, The Gone-Away World, Things We Didn't See Coming. See Also: Last month's list

The Millions Top Ten: June 2010

We spend plenty of time here on The Millions telling all of you what we’ve been reading, but we are also quite interested in hearing about what you’ve been reading. By looking at our Amazon stats, we can see what books Millions readers have been buying, and we decided it would be fun to use those stats to find out what books have been most popular with our readers in recent months. Below you’ll find our Millions Top Ten list for June. This Month Last Month Title On List 1. 1. Reality Hunger 5 months 2. 5. Stoner 6 months 3. 8. Tinkers 2 months 4. 6. The Big Short 4 months 5. (tie) - The Thousand Autumns of Jacob de Zoet 1 month 5. (tie) - The Girl Who Kicked the Hornet's Nest 1 month 7. 10. Wolf Hall 6 months 8. 9. War and Peace 3 months 9. - The Girl Who Played With Fire 1 month 10. - Out of Sheer Rage: Wrestling With D.H. Lawrence 1 month With four books -- The Death of Ivan Ilych and Other Stories, The Mystery Guest, Let the Great World Spin, and The Interrogative Mood? -- graduating to our Hall of Fame, we have plenty of room for newcomers on our latest list. The late Stieg Larsson, whose The Girl with the Dragon Tattoo is already in our Hall of Fame, has the rest of his trilogy make the list, The Girl Who Played With Fire and the recently released The Girl Who Kicked the Hornet's Nest. Meanwhile, David Mitchell's new novel, The Thousand Autumns of Jacob de Zoet, which was released only a few days ago, debuts tied at number five, and Geoff Dyer's 1998 bio of D.H. Lawrence, Out of Sheer Rage, which was recently championed by David Shields in these pages, debuts in the last spot on the list. And it's Shields' controversial Reality Hunger that's still holding on to our top spot. Near Misses: Twilight of the Superheroes, Although Of Course You End Up Becoming Yourself: A Road Trip with David Foster Wallace, The Known World, Then We Came to the End, The Imperfectionists See Also: Last month's list

The Millions Top Ten: May 2010

We spend plenty of time here on The Millions telling all of you what we’ve been reading, but we are also quite interested in hearing about what you’ve been reading. By looking at our Amazon stats, we can see what books Millions readers have been buying, and we decided it would be fun to use those stats to find out what books have been most popular with our readers in recent months. Below you’ll find our Millions Top Ten list for May. This Month Last Month Title On List 1. 3. Reality Hunger 4 months 2. 2. The Death of Ivan Ilyich and Other Stories 6 months 3. 4. Let the Great World Spin 6 months 4. 5. The Mystery Guest 6 months 5. 6. Stoner 5 months 6. 8. The Big Short 3 months 7. 9. The Interrogative Mood 6 months 8. - Tinkers 1 month 9. 10. War and Peace 2 months 10. 7. Wolf Hall 5 months This month, David Shields' controversial Reality Hunger slips into the top spot. Shields recently offered an energetic defense of the book and an accompanying reading list. Graduating to our Hall of Fame this month is Jonathan Franzen's The Corrections, which appeared at the top of our panel's list and number eight on our readers' list in our "Best of the Millennium (So Far)" series last year. We've been learning more about Franzen's next novel, Freedom, out later this year. Our only debut this month is the surprise Pulitzer winner and small press hero, Tinkers by Paul Harding. Near Misses: The Girl Who Kicked the Hornet's Nest, Although Of Course You End Up Becoming Yourself: A Road Trip with David Foster Wallace, The Known World, Twilight of the Superheroes, Then We Came to the End See Also: Last month's list

The Millions Top Ten: April 2010

We spend plenty of time here on The Millions telling all of you what we’ve been reading, but we are also quite interested in hearing about what you’ve been reading. By looking at our Amazon stats, we can see what books Millions readers have been buying, and we decided it would be fun to use those stats to find out what books have been most popular with our readers in recent months. Below you’ll find our Millions Top Ten list for April. This Month Last Month Title On List 1. 1. The Corrections 6 months 3. 3. The Death of Ivan Ilyich and Other Stories 5 months 3. 2. Reality Hunger 3 months 4. 4. Let the Great World Spin 5 months 5. 10. The Mystery Guest 5 months 6. 9. Stoner 4 months 7. 6. Wolf Hall 4 months 8. 5. The Big Short 2 months 9. 7. The Interrogative Mood 5 months 10. - War and Peace 1 month Graduating to our Hall of Fame this month is W.G. Sebald's Austerlitz, which appeared on both our panel's list and our readers list in our "Best of the Millennium (So Far)" series last year. Our panel's winner in the same series, Jonathan Franzen's The Corrections, stays in the top spot. We've been looking forward to Franzen's next novel, Freedom, out later this year. Our only debut this month is a classic. Leo Tolstoy's War and Peace landed on lots of reading lists after we published Kevin's thoughtful meditation on the book and what it means to be affected by great art. Near Misses: Although Of Course You End Up Becoming Yourself: A Road Trip with David Foster Wallace, Asterios Polyp, The Known World, Tinkers, Solar, Twilight of the Superheroes See Also: Last month's list

The Millions Top Ten: March 2010

We spend plenty of time here on The Millions telling all of you what we’ve been reading, but we are also quite interested in hearing about what you’ve been reading. By looking at our Amazon stats, we can see what books Millions readers have been buying, and we decided it would be fun to use those stats to find out what books have been most popular with our readers in recent months. Below you’ll find our Millions Top Ten list for March. This Month Last Month Title On List 1. 2. The Corrections 5 months 2. 5. Reality Hunger 2 months 3. 10. The Death of Ivan Ilyich and Other Stories 4 months 4. 6. Let the Great World Spin 4 months 5. - The Big Short 1 month 6. 9. Wolf Hall 3 months 7. 3. The Interrogative Mood 4 months 8. 4. Austerlitz 6 months 9. 7. Stoner 3 months 10. 8. The Mystery Guest 4 months Graduating to our Hall of Fame this month is David Mitchell's Cloud Atlas, which was the readers' favorite in our "Best of the Millennium (So Far)" series last year. That allows our panel's winner in the same series, Jonathan Franzen's The Corrections, to take over the top spot. Of late, readers have begun looking forward to Franzen's next novel, Freedom, out later this year. Our only debut this month is Michael Lewis' look at the financial crisis of the last two years, The Big Short. Of the hundreds of books on the topic, Lewis' was one of the most widely anticipated, both because of his long history writing about Wall Street’s excesses and because of the powerful essay he penned on the topic for Portfolio magazine at the height of the crisis. Near Misses: Asterios Polyp, The Known World, War and Peace, Then We Came to the End, Union Atlantic See Also: Last month's list

Most Anticipated: The Great 2010 Book Preview

Update: Don't miss our newest "Most Anticipated" list, highlighting books for the rest of 2010 and beyond. There's something for every lover of fiction coming in 2010, but, oddly enough, the dominant theme may be posthumous publication. Roberto Bolaño's relentless march into the canon has inured us to the idea of the bestseller from beyond the grave (and of course, for as long as there have been literary executors, this has been nothing new), but beyond the four(!) new books by Bolaño we also have have potentially important works by the likes of Ralph Ellison and Henry Roth, intriguing new books from Robert Walser and Ernst Weiss, a guaranteed bestseller from Stieg Larsson, and, looming in 2011, the final, unfinished novel of David Foster Wallace. Perhaps, amid all this, it is a relief to hear that we have many exciting books on their way from those still with us, including Elizabeth Kostova, Joshua Ferris, David Mitchell, Jennifer Egan, Don DeLillo, Ian McEwan, Yann Martel, and many others.Special thanks to The Millions Facebook group for helping us compile this list.January (or already available) Three Days Before the Shooting by Ralph Ellison: Fitting that this book preview starts off with a posthumous novel. Ellison's unfinished opus will not be the the only posthumous work to grab readers attention in 2010, but it will be perhaps the one with the most history attached to it and maybe, in the accounting of those who manage the canon, the most important. Ellison famously struggled to complete a second novel after the landmark publication of The Invisible Man. After Ellison's death, Juneteenth was cobbled together by his literary executor John Callahan and met with decidedly mixed reviews. But, as a 2007 article in the Washington Post argues, Three Days Before the Shooting, the result of years of work by Callahan and co-editor Adam Bradley, was always meant to be the true Ellison second novel. Readers will soon find out if it's the masterpiece they've been waiting for for decades.The Unnamed by Joshua Ferris: If your debut effort (in this case, Then We Came to the End) gets nominated for a National Book Award, you are on the express train to literary stardom. Quickly, however, focus shifts to the sophomore effort. For Ferris, early signs look good. Word is that The Unnamed is dark in tone, darker than and by all early accounts dissimilar to TWCTTE. The protagonist Tim's affliction is that he's unable to stop walking. In an early review, Bookforum likes it and says "Ferris possesses an overriding writer's gift: a basic and consistent ability to entertain while spurring engagement." See also: Joshua Ferris writing at The MillionsMonsieur Pain by Roberto Bolaño: The frenzy of posthumous Bolaño publication will continue in 2010 with as many as four (that I was able to find) books by the Chilean author published. Bolaño has been unmistakably one of the biggest publishing stories of the last few years, and publisher New Directions has been capably and speedily adding title after title to the Bolaño shelf at your local bookstore. Monsieur Pain (January) is about a Peruvian poet with a chronic case of hiccups. Antwerp (April) has been described as both a prose poem and a crime novel. The Return (July) is a new volume of short stories, as is The Insufferable Gaucho (August?), which was apparently the last book Bolaño delivered to a publisher. And look for more Bolaño in 2011. Garth may need to start updating his Bolaño Syllabus on a quarterly basis.Fun with Problems by Robert Stone: Fun with Problems will be Stone's first collection of short fiction in twelve years. And his first book since his 2007 memoir Prime Green: Remembering the Sixties (see Garth's review).Ordinary Thunderstorms by William Boyd: Boyd's novel is already out in the UK where it has been receiving characteristically good notices. "There are tantalising hints of a broader ambition in William Boyd's wide-ranging new thriller," said The Guardian. The book is ostensibly about a man on the run, but Boyd, in an interview with Edinburgh Festivals alluded to the depth that The Guardian picked up on, "It's a chase. And the drive is that the man is being hunted. But like the last four of my novels, it's also about identity, about what happens when you lose everything that makes up your social identity, and how you then function in the modern city."The Swan Thieves by Elizabeth Kostova - The follow-up to Kostova's big selling The Historian (the first ever first novel to debut at #1 on the New York Times bestseller list) promises to be just as densely detailed as its predecessor, weighing in at a hefty 576 pages. Recently departed Kirkus has some quibbles with the plot machinations, but says "lush prose and abundant drama will render logic beside the point for most readers." PW adds "The Swan Thieves succeeds both in its echoes of The Historian and as it maps new territory for this canny and successful writer." See Also: Elizabeth Kostova's Year in ReadingIn January, Archipelago Books will publish a translation of Ernst Weiss' Georg Letham: Physician and Murderer some 70 years after the novel's appearance in German. Enthusiasts of German-language literature have compared Weiss favorably with his contemporary Thomas Mann and his friend Franz Kafka, but he has remained something of an unknown on this side of the Atlantic. Already, Joel Rotenberg's translation has begun to remedy this neglect. An excerpt appeared in A Public Space a while back. (Garth)February Point Omega by Don DeLillo: Anticipation for DeLillo's forthcoming book has been decidedly truncated. Publisher Scribner first tweeted about DeLillo delivering the manuscript in June, and the book will hit shelves a scant eight months later. One reason for the quick turnaround might be the book's surprising slimness, coming in somewhere between 117 pages (says PW) and 128 pages (says Scribner). Imagine: reading an entire DeLillo novel in an afternoon, or perhaps just over lunch. So will the book's slight profile belie some interior weightiness? A recently posted excerpt may offer some clues, and PW says "Reading it is akin to a brisk hike up a desert mountain—a trifle arid, perhaps, but with occasional views of breathtaking grandeur."Reality Hunger: A Manifesto by David Shields: We've already discussed Shields' forthcoming "manifesto" quite a lot at The Millions. It was first noted, in glowing terms, by Charles D’Ambrosio. This prompted me to dig deeper in a longer look at the book. From my sleuthing, and noting blurbs by J.M. Coetzee, Jonathan Lethem, and others, I posited "the intriguing possibility that a book of ideas will capture the popular interest [in 2010]." The book now sits on my desk, and while haven't yet jumped in with both feet, I can report that it is both structurally (a lettered and numbered organization scheme whose logic is not immediately discernible) and stylistically (deep thoughts, reminiscences, aphorisms, and pop culture nuggets abound) unique. It will be interesting to see if readers decide the book coalesces into a successful whole. This just in - British publisher Hamish Hamilton reports that Zadie Smith will be writing up the book in The Guardian soon. See Also: David Shield's Year in ReadingThe Infinities by John Banville: Banville follows up his Booker-winning effort The Sea with a novel with a rather unique conceit: it is narrated by the god Hermes. The reviews hint at further oddities. In The Guardian, for example, "Old Adam, a physicist-mathematician, has solved the infinity problem in a way that's not only led to some useful inventions – cars that run on brine, for example – but also proved the existence of parallel universes, a category that includes the one he inhabits. In this novel, Sweden is a warlike country, and evolution and relativity have been discredited."Union Atlantic by Adam Haslett: Haslett made a big splash in 2002 when his debut effort - a collection of short stories called You Are Not a Stranger Here - was a finalist for the National Book Award and the Pulitzer Prize. Union Atlantic, his first novel, takes the depths of the recent financial collapse as a backdrop (which explains why a work of literary fiction is getting notice from publications like American Banker). PW gave it a starred review and insinuates it might be a seminal novel of that particular historical moment. Esquire recently published the novel's prologue. It begins, "Their second night in port at Bahrain someone on the admiral's staff decided the crew of the Vincennes deserved at least a free pack of cigarettes each."March Solar by Ian McEwan: McEwan's new novel was discussed extensively in Daniel Zalewski's New Yorker profile of McEwan in February 2009. More recently, the magazine published an excerpt from the novel. The book's protagonist is a Nobel Prize-winning physicist, and it appears that the book's chief drama will arise in his becoming embroiled in the climate change "debate." The book is also being called a satire, but, to the extent that several of McEwan's books have elements of satire, it's unclear whether Solar will be much of a departure for McEwan. The excerpt in the New Yorker would seem to indicate it'll be a typical, and probably quite good, effort.The Ask by Sam Lipsyte: Lipsyte had a breakout hit with Home Land in 2005. His follow-up novel was reviewed recently in The Quarterly Conversation, which says "let’s be frank: this is a hard novel to review. The Ask makes for your heart with its claws so efficiently that it leaves you torn and depleted. How are you to review a book that simply frightens you?" Ultimately, TQC decides The Ask "isn’t quite as good as Home Land. The latter was nearly perfect in idea and execution—an ’80s high-school movie gone sick with nostalgia for its own John Hughesian past. The Ask is more generationally diffuse. While just as snot-blowingly funny as its predecessor, The Ask is more devastating in its pitilessness."The Surrendered by Chang-Rae Lee: Bookdwarf read this one recently and says Lee "offers no easy endings or heartwarming coming-together, instead bringing to life a powerful, unpredictable, and occasionally painful story."Burning Bright by Ron Rash: Rash's follow-up to Serena is a collection of stories. The book's title story appeared in Ecotone in 2008.One More Story: Thirteen Stories in the Time-Honored Mode by Ingo Schulze: Garth has been talking about Schulze here for at least two years. Most recently he wrote "The East German setting of New Lives, and its uroboric epistolary structure – starting late in the story, slowly filling in the background – made for slow going at first, but the ethical intensity of its restaging of Faust has haunted me since I read it." The English (and somewhat illogical) title of Schulze's new book would seem to obscure the unifying theme of the new collection, whose title, translated directly from the German original, is Cell Phone: Thirteen Stories in the Old Style. According to an abstract for a paper in the journal German Monitor, "the cell phone functions in many stories as a threatening symbol of exposure to pressures and problems that make East(ern) Germans feel ill at ease."So Much for That by Lionel Shriver: More hot button issues. Just as Ian McEwan's forthcoming novel is informed by climate change, Shriver's latest takes on the healthcare debate. The Bradshaw Variations by Rachel Cusk: Cusk's novel is already out in the U.K. where Hilary Mantel wrote, "It is the author's mix of scorn and compassion that is so bracing. Sometimes she complicates simple things, snarling them in a cat's cradle of abstraction, but just as often, a sentence rewards with its absolute and unexpected precision."Silk Parachute by John McPhee: This new collection by McPhee is built around what FSG's promotional material calls "McPhee’s most anthologized piece of writing." "Silk Parachute" is, especially for the typically measured McPhee, a brief, tight, funny and emotional essay (It's available here as a .doc file). The rest of the new collection is composed of McPhee's recent New Yorker essays on lacrosse, "long-exposure view-camera photography, the weird foods he has sometimes been served in the course of his reportorial travels, a U.S. Open golf championship, and a season in Europe 'on the chalk' from the downs and sea cliffs of England to the Maas valley in the Netherlands and the champagne country of northern France." Since McPhee's most recent collections have had fairly strong thematic threads running through them, this more loosely tied book sounds like a bit of a departure.Long for This World by Sonya Chung: And, of course, Millions contributor Sonya Chung will see her debut novel Long for This World arrive in March. Sonya wrote about the peculiar challenges of settling on a book design in a recent essay.April The Notebook by Jose Saramago: Nobel Laureates can do "blooks" too. The Notebook is the collected entries from 87-year-old Saramago's blog, O Caderno de Saramago. The book, "which has already appeared in Portuguese and Spanish, lashes out against George W. Bush, Tony Blair, the Pope, Israel and Wall Street," according to the Independent, in its report on the book's Italian publisher dropping it for criticizing Prime Minister Silvio Burlusconi. Despite his age, Saramago is a busy man. In addition to The Notebook, there's an August release date in the U.K. for a new novel, The Elephant's Journey, which "traces the travels of Solomon, an Indian elephant given by King John III to Archduke Maximilian II of Austria," and Cain, "an ironic retelling of the Bible story," was recently published in Portuguese and Spanish.Parrot and Olivier in America by Peter Carey: Carey's new book is based on the life of Alexis de Tocqueville and wields two narrators. Olivier, the de Tocqueville "character" is, like de Tocqueville, the heir apparent of a wealthy family. Parrot is his clever servant who also happens to be a spy and all around rake. Early reviews from Australia, where the book is already out, have been strong. The Sydney Morning Herald called it "a tour de force, a wonderfully dizzying succession of adventures and vivid, at times caricatured, characters executed with great panache."The Dead Republic by Roddy Doyle: This book wraps up Doyle's The Last Roundup trilogy (previously: A Star Called Henry and Oh, Play That Thing!). This time Henry Smart has gone to Hollywood and then back to Dublin. A bomb blast there turns him into an accidental hero.What Becomes by A.L. Kennedy: This short story collection is already out in the U.K. The Spectator likes it: "The hardest thing about the advent of a new collection of stories by A.L. Kennedy... is the search for synonyms for 'brilliant.'"Beatrice and Virgil by Yann Martel: Though Martel's previous effort, Life of Pi, was far from universally loved, the book became something of a literary phenomenon, putting up sales impressive even for a Booker winner. As a result, nearly a decade later, Martel's follow up is one of the most heavily anticipated books of the year. As before, it seems Martel will be trading in talking animals, a taxidermied donkey and monkey. More details: The book is about the Holocaust, reportedly. It's Canadian publisher has called it "shocking." And Martel is comparing it to Animal Farm.The Big Short by Michael Lewis: Original set for November 2009, the publication of Michael Lewis’ much anticipated chronicle of the financial crisis, The Big Short has been pushed back to April. In October 2008, when economic uncertainty was at its height and fears were voiced in some rarefied quarters about the possibility of some sort of structural collapse, we wrote, “The world needs an exhaustive look at what happened in 2008 and why.” There have already been many books about the collapse and what caused it, from The Two Trillion Dollar Meltdown to The Return of Depression Economics and the Crisis of 2008, but many readers have been waiting for a book by Lewis, both because of his long history writing about Wall Street’s excesses and because of the powerful essay he penned on the topic for Portfolio magazine at the height of the crisis. Some readers may be weary of the topic by the time the book comes out, but it’s sure to garner some interest. Noir by Robert Coover: An excerpt of this new novel by "pioneering postmodernist" Coover was published a while back in Vice. It is introduced thusly: "Noir is a short novel starring you as Philip M. Noir, Private Investigator. It began as a story about a dockside detective in pursuit of something—like truth or beauty, the ineffable—and became over the course of its writing a kind of companion piece to Ghost Town, which played with the western genre and mythology the way this one plays with the hard-boiled/noir genre and urban myth. It was the French who discovered and defined noir; consequently, this book will have its first publication in Paris, in French, in the spring of 2008."May The Pregnant Widow by Martin Amis: This book, long in the works, has been evolving as Amis has struggled to write it. In 2006, he told The Independent it was, "blindingly autobiographical, but with an Islamic theme." As it turns out, the autobiographical bits were causing Amis trouble. He told the National Post in August 2009, "it turned out it was actually two novels, and they couldn’t go together. So I wrote The Pregnant Widow, [that’s] one half of it, and the other half I started, and it will be very autobiographical, the next one." Subsequent comments from Amis appear to indicate the two book solution is still the plan. Imperial Bedrooms by Bret Easton Ellis: Imperial Bedrooms is reportedly a sequel to Ellis' first novel Less Than Zero. First sentence of the novel? "They had made a movie about us."The Invisible Bridge by Julie Orringer: Orringer received more than the typical notice for a debut short story collection when her 2003 How to Breathe Underwater was named a New York Times Notable Book, landed on various other lists, and picked up a small prize or two. It's looking like that promising first effort may translate into a "big" novel for Orringer in 2010. Library Journal reported a 60,000-copy first printing for The Invisible Bridge - the book follows a trio of Hungarian brothers in Budapest and Paris before and during World War II - and it carries with it a blurb from Michael Chabon ("To bring an entire lost world... to vivid life between the covers of a novel is an accomplishment; to invest that world, and everyone who inhabits it, with a soul... takes something more like genius.")The Girl Who Kicked the Hornet's Nest by Stieg Larsson: Larsson's nordic crime fiction (which has won Larsson posthumous stardom in the States) isn't exactly in The Millions wheelhouse, but, with nary a mention on the site, The Girl with the Dragon Tattoo vaulted into our Millions Top Ten and has stayed there. When Millions' readers get behind a book, it's often worth taking notice. The Girl Who Kicked the Hornet's Nest is the final book in Larsson's "Millennium Trilogy" (Dragon was the first and The Girl Who Played with Fire, the second). Though just becoming well known in the U.S., Larsson was the second top-selling author in the world in 2008. Part of Larsson's sudden success is his odd path to (posthumous) publishing fame. Larsson was a journalist and activist who died of a heart attack. The manuscripts of his novels were found after his death. He had apparently written them just for fun. Five years later, the books are a publishing sensation.Private Life by Jane Smiley: There's not much info on this one yet other than that it follows a Missouri woman's life, from the 1880s to World War II.The Good Man Jesus and the Scoundrel Christ by Philip Pullman: Pullman (famous for his His Dark Materials children's series) will once again be courting controversy with this new book. According to The Guardian, "The book will provide a new account of the life of Jesus, challenging the gospels and arguing that the version in the New Testament was shaped by the apostle Paul." In addition, the book will be released on Easter in the U.K. and is part of Canongate's "Myths" series of books. Pullman also wrote an introduction to that series.The Microscripts by Robert Walser: The pothumous publication of Nabokov's The Original of Laura, reproducing, front and back, the notecards on which Nabokov hat charted this unfinished work, was met with no small amount of scorn. This year, another posthumously published book, based off of notecard scrawlings, may be met more favorably. The story behind Walser's Microscripts is fascinating. From the New Directions blog: "Walser wrote many of his manuscripts in a highly enigmatic, shrunken-down form. These narrow strips of paper... covered with tiny ant-like markings only a millimeter or two high, came to light only after the author’s death in 1956. At first considered a secret code, the microscripts were eventually discovered to be a radically miniaturized form of a German script: a whole story could fit on the back of a business card... Each microscript is reproduced in full color in its original form: the detached cover of a trashy crime novel, a disappointing letter, a receipt of payment."June The Thousand Autumns of Jacob de Zoet by David Mitchell: After Black Swan Green, a departure from the frenetic, layered Cloud Atlas which was broadly considered one of the best novels of the last decade, Mitchell fans may be pleased to hear that The Thousand Autumns of Jacob de Zoet is being described as a return to form. It's long (512 pages) and set in Japan in 1799. The Guardian says, "Mitchell returns to the big canvas with this historical novel set in a Japanese outpost of the Dutch empire."An American Type by Henry Roth: Here's another interesting posthumous publication. Roth is revered for his 1934 novel Call It Sleep and his 1990s "comeback" effort, the Mercy of a Rude Stream cycle, and so news of this book, "discovered," according to the publicity materials, "in a stack of nearly 2,000 unpublished pages by a young New Yorker editor," will surely interest readers. A little more detail from the publicity materials: "Set in 1938, An American Type reintroduces us to Roth’s alter ego, Ira, who abandons his controlling lover, Edith, in favor of a blond, aristocratic pianist at Yaddo. The ensuing conflict between his Jewish ghetto roots and his high-flown, writerly aspirations forces Ira, temporarily, to abandon his family for the sun-soaked promise of the American West."A Visit from the Goon Squad by Jennifer Egan: This new novel by National Book Award nominee Egan sounds like it's as ambitious and layered as Look At Me--and I'm sure it'll be as addictively readable as The Keep. According to Amazon, it centers on the life of Bennie Salazar, "an aging former punk rocker and record executive, and Sasha, the passionate, troubled young woman he employs," and the narrative traverses various eras and locales, "from the pre-Internet nineties to a postwar future." Color me intrigued. (Edan)July Update: Super Sad True Love Story by Gary Shteyngart: A reader points out in the comments that Shteyngart has a new book coming out and since we absolutely would have included it had we known about it, here it is. A recent item at The Rumpus has the scoop: "His new novel is set slightly in the future. When he started writing it a few years ago, he envisioned a world where the world’s economy had collapsed and the central banks had to bail out the Big Three automakers. As that came to pass, he had to keep changing his novel, which got bleaker and bleaker. And now it’s set in 'a completely illiterate New York,' he said. 'In other words, next Tuesday.'" August Sympathy for the Devil: This is a long way off so it's hard to say how good it will be, but it sounds pretty cool: an anthology of stories about the devil from the likes of Neil Gaiman, Stephen King, Kelly Link, China Mieville, Michael Chabon, and others.I Curse the River of Time by Per Petterson: Petterson has been on the road to international literary stardom for a few years now and that means his new novels get translated into English with relative alacrity. This means that English-speaking readers will get to see I Curse the River of Time, first published in Norwegian in 2008, later this year. The book won the Norwegian Brage prize and, according to a "sample translation" on Petterson's agent's website, it begins: "I did not realize that my mother had left. There was too much going on in my own life. We had not spoken for a month, or even longer, which I guess was not that unusual, in 1989, when you consider the things that went on around us back then, but it felt unusual." September C by Tom McCarthy: At Ready Steady Book in September 2007, Mark Thwaite asked McCarthy: "What are you writing now?" And McCarthy responded: "Pathetically, my answer to this question is the same as it was when you last asked it over a year ago. I’m just under half way through a novel called C, which is about mourning, technology and matter. I’m writing it very slowly. It’s called C because it has crypts, cauls, call-signs, cocaine, cyanide and cysteine in it. And carbon: lots of carbon."Unknown Nemesis by Philip Roth: News of this novel was announced nearly a year ago, but there is no release date thus far and not much is known about it beyond that it's "a work of fiction set in the summer of 1944 that tells of a polio epidemic and its effects on a closely knit Newark community and its children."Freedom by Jonathan Franzen: Jonathan Franzen's follow-up to The Corrections, Freedom, is likely to cause a stir when it appears, most likely in the fall. Among the prominent media narratives - the backlash, the backlash-to-the-backlash - will be the length of the novel's gestation. Really, though, in novelist time (as distinct from internet time), nine years is a mere blip - particularly when you publish two books of nonfiction in the interim. Far more remarkable is how tight-lipped Franzen has managed to be about the novel's content. From various obscure interviews, we've managed to cobble together the following: 1) The novel has something to do with U.S. politics, of the Washington, D.C. variety. 2) Franzen's original conception of how those politics would intersect with the narrative changed radically in the writing, likely shifting from an "inside baseball" look at bureaucracy toward the personal. 3) Germany, where Franzen has spent some time recently, "will play an important role in the novel." 4) After two New Yorker short stories notable for their smallness and misanthropy, the excerpt from the novel that appeared last year was notable for its return to the more generous ironies that endeared The Corrections to our "Best Fiction of the Millennium (So Far) panel." (Garth)The Pale King by David Foster Wallace: Wallace's unfinished opus is sure to be a blockbuster when it appears - April 2011 is the latest word on a release date. The Howling Fantods, home to all things DFW, has been staying on top of the story. A recent report contained a number of tidbits, including this: "The subject of the novel is boredom. The opening of the book instructs the reader to go back and read the small type they skipped on the copyright page, which details the battle with publishers over their determination to call it fiction, when it's all 100% true. The narrator, David Foster Wallace, is at some point confused with another David F. Wallace by IRS computers, pointing to the degree to which our lives are filled with irrelevant complexity."There are many other exciting books coming out in 2010 not mentioned here - let us know what books you are most looking forward to in 2010 in the comments section below.

Most Anticipated: Rounding Out 2009, An Epic Year for Books

At the beginning of the year, we noted that "2009 may be a great year for books." With the publishing schedule for the remainder of the year filled out, calling 2009 a great year for readers is now a certainty. If anything, 2009 is backloaded, with new titles coming in the second half of the year from legends like Thomas Pynchon and Philip Roth and fan favorites like Lorrie Moore and Jonathan Lethem. A peek into 2010, meanwhile, reveals more literary excitement on tap, with new titles on the way from Jonathan Franzen, Joshua Ferris, and others. Below you'll find, in chronological order, the titles we're most looking forward to right now. (Special thanks to the illustrious members of The Millions Facebook group who let us know what they are looking forward to. Not everyone's suggestions made our list, but we appreciated hearing about all of them.)In July, Dave Eggers continues the trend he started with What is the What, working closely with his subject to produce a work with elements of memoir and non-fiction. In Zeitoun, the subject is Abdulrahman Zeitoun, "a prosperous Syrian-American and father of four," who lived in New Orleans and disappeared in the aftermath of Hurricane Katrina. A few weeks ago, The Rumpus ran a long interview with Eggers that touches on Zeitoun, among several other topics. Eggers first encountered Zeitoun when McSweeney's put out Voices from the Storm, an oral history of Katrina, and he told The Rumpus, "Their story intrigued me from the start, given that it's at the intersection of so many issues in recent American life: the debacle of the government response to Katrina, the struggles facing even the most successful immigrants, a judicial system in need of repair, the problem of wrongful conviction, the paranoia wrought by the War on Terror, widespread Islamophobia." (Scroll down to October for more "Anticipated" action from Eggers.)William T. Vollmann is known for his superhuman writing output, but his forthcoming book Imperial is a monster, even for him. Weighing in at 1,296 pages and carrying a list price of $55, this work of non-fiction is "an epic study," in the words of the publisher, of Imperial County, California along the U.S.-Mexico border. Ed offers quite a bit more discussion of the book. Don't miss the comments, where it's said that Vollmann has called the book "his Moby-Dick."August kicks off with what will no doubt be a peculiar literary event, the publication of Thomas Pynchon's Inherent Vice. It is a rare thing these days when a flurry of media attention centers on someone who has no interest in basking in it. And so, perhaps as Pynchon intends, the focus will be on the book. Inherent Vice promises to be odd. It's 416 pages, shorter than the typical Pynchon doorstop, and the publisher Penguin, in its catalog, notes that Pynchon is "working in an unaccustomed genre" this time around. "Genre" seems to be the buzzword here. The book sports neon cover art and follows a private eye (Doc Sportello). The book begins: "She came along the alley and up the back steps the way she always used to." Review copies are already out, and the early word is that the novel overlaps somewhat with and bears some similarities to Vineland.Inherent Vice shares a release date with a new book by Richard Russo, That Old Cape Magic, which Entertainment Weekly has already called "very beach-y." (Sadly, it appears to have come in last in their poll to determine the "Must book of the summer.") It sounds like fairly standard "suburban malaise" fare in which a mid-life crisis is endured over the course of the summer, the upside for the reader being that Russo is bringing his considerable skills to the table. PW is fairly tepid on the book, "Though Russo can write gorgeous sentences and some situations are amazingly rendered... the navel-gazing interior monologues that constitute much of the novel lack the punch of Russo's earlier work."Of Roberto Bolaño's forthcoming, newly translated novels, Millions contributor Lydia writes: "I almost never know about the hot, up-and-coming items, but I do happen to know about this one, and I feel that, like many readers, my relationship to Bolaño has been one of breathless anticipation since the moment I first heard his name. Which was like this: at my old job, I was going through the mail. There was a New Directions catalog of aforementioned hot, up-and-coming items. I haven't historically had a lot of interest in contemporary trade publications, but New Directions has a very warm spot in my heart because I associate it with The Berlin Stories. Anyway, in said mag I read a blurb about Nazi Literature in the Americas, and thought it sounded really neat, and then learned I would have to wait a year to read it, and since then it feels like there's been a lot of waiting - sometimes with glorious gratification at the end (2666), sometimes not (Nazi Literature in the Americas, ironically). It's thrilling that they keep coming! The Skating Rink in August, Monsieur Pain in 2010. It's like new the James Bond franchise (btw, I'm a Craig, not a Brosnan). I just love having something to look forward to. I hope I don't wet my pants on the way to the bookstore." (Bolaño fans will also be looking out for Melville House's Bolaño: The Last Interview And Other Conversations)Dan Chaon's Await Your Reply returns to the territory of separated siblings (You Remind Me of Me looked at a pair of long-lost brothers.) This time, the focus is on twins, one of whom has been missing for ten years. The book garnered a blurb from Jonathan Franzen, who will appear later in this list and who says of Chaon's book, "I've been waiting for somebody to write the essential identity-theft novel, and I'm very glad Dan Chaon's the one to have done it"Let's just get this out of the way: In September, you are going to hear a lot about Dan Brown's The Lost Symbol.More importantly, we'll get Richard Powers' follow up to his award-winning novel The Echo Maker. In Generosity: An Enhancement, Powers explores the idea of patenting the human gene for happiness. Last year, Powers wrote about the human genome for GQ. There's not a lot of info available about this one but Ed Champion writes he "foresee(s) some animosity from the vanilla critics hostile to idea-driven novels," and Sarah Weinman "tweeted," "Richard Powers' new novel Generosity is about as audacious as a novel gets, and has fucked with my head as a reader every which way."Lorrie Moore is set to deliver her first novel in over a decade, A Gate at the Stairs. All those Moore fans out there are faced with a huge dilemma this week. Do they read the "Childcare," the excerpt of the novel that is the fiction offering in this week's New Yorker, or do they avoid the magazine and hold out for two more months until the novel comes out? We've never been big fans of the New Yorker's packaging of novel excerpts as short stories, so to all the Moore fans out there, we say - avert your eyes when you reach page 70 of this week's issue!Kazuo Ishiguro's Nocturnes: Five Stories of Music and Nightfall is already out in much of the rest of the English-speaking world. In The Guardian, Christopher Taylor described the book as "a carefully arranged sequence of interlocking stories" and said, "while many of the stories hinge on artistic talent - the risks and unkindnesses associated with it; who's got it and who hasn't - the strong focus on more widespread problems in life makes Nocturnes more than a writer's thoughts on his job." The Complete Review rounds up the rest of the early reactions.Pete Dexter returns in September with Spooner. This one sounds like another dark, Southern tale not unlike Paris Trout, the book that first put Dexter on the fiction map. The first line of Spooner is "Spooner was born a few minutes previous to daybreak in the historic, honeysuckled little town of Milledgeville, Georgia, in a make-shift delivery room put together in the waiting area of the medical offices of Dr. Emil Wood."We'll also get a new novel from E.L. Doctorow about a pair of brothers. Homer & Langley is about Homer and Langley Collyer, two famous Manhattan hoarders and recluses, who, after gaining notoriety for their obsessive habits and reportedly booby-trapped home, were found dead in 1947 surrounded by, according to Wikipedia, "over 100 tons of rubbish that they had amassed over several decades." Newsweek has an excerpt of the book. The novel's first line is "I'm Homer, the blind brother. I didn't lose my sight all at once, it was like the movies, a slow fade-out."Dan Brown is no doubt getting serious bank for his return to airport bookshelves and grocery store check-out lines, but he's not the only one having a great recession. Audrey Niffenegger reportedly took home a $5 million advance for Her Fearful Symmetry, her follow-up to her very popular The Time Traveler's Wife. Niffenegger describes the book on her website: "The novel concerns a pair of mirror-image twins, Julia and Valentina Poole... Julia and Valentina are inseparable, and function almost as one being, although in temperament they are opposites."Acclaimed novelist Margaret Atwood will have a new novel out in September called The Year of the Flood, which has been described as "a journey to the end of the world." The Random House catalog, meanwhile, called it a "dystopic masterpiece and a testament to her visionary power." If that all isn't intriguing enough, it appears that the book is maybe (or maybe not) the second book in a trilogy that was kicked off with Oryx & Crake. Atwood and her publishers have offered mixed signals on the trilogy question. Quill & Quire looked into the question, and included a quote from Atwood saying, "It's not a sequel and it's not a prequel... It's a simultaneouel." Ah, one of those.In The Anthologist, Nicholson Baker covers well-trod literary ground by focusing on a writer protagonist. However, PW gave the book a starred review, calling it "lovely" and saying "Baker pulls off an original and touching story, demonstrating his remarkable writing ability while putting it under a microscope." Baker's protagonist is Paul Chowder, who is tasked with writing an introduction for a poet friend's anthology and delivers the book's stream of consciousness narration. By all early accounts the book is quite funny and also deeply immersed in poetry, with digressions on a number of history's great poets. The Simon & Schuster catalog calls the book a "beguiling love story about poetry."It's my feeling that John Irving's fiction has fallen off quite a bit in recent years (the last really good read for me was A Son of the Circus), but I still keep an eye on Irving's new novels for any sign that he has regained his early career mojo. His last several books haven't tempted me, and it's probably too early to tell whether the Last Night in Twisted River will. Reading the first sentence of the publisher's description, we already find a couple of Irving's authorial tics, New Hampshire and bears: "In 1954, in the cookhouse of a logging and sawmill settlement in northern New Hampshire, an anxious twelve-year-old boy mistakes the local constable's girlfriend for a bear." Don't be surprised if a wrestler figures into the action somewhere in there. Still, Irving has compared the new book to The Cider House Rules. That's a good sign.The venerable William Trevor will have a new novel out, Love and Summer.Millions reader Matthew looks forward to Laird Hunt's Ray of the Star, due in September, "because Laird's novels are fantastic." Of Kamby Bolongo Mean River by Robert Lopez, he writes "This is his sophomore novel; his first, Part of the World was bizarre and funny." He plans to read The Museum of Eterna's Novel by Macedonio Fernandez (arriving in 2010) "because Borges sez so."October is sure to bring Wild Things mania and Dave Eggers is going to be right in the middle of it. He worked with Spike Jonze on the film version of Where the Wild Things Are. And, in what is sure to be the most literary novelization of a film (adapted from a children's book) ever, an Eggers-penned version of Wild Things is set to hit shelves when the movie comes out. There's also the fur-covered edition.New Yorker readers have already gotten a taste of Jonathan Lethem's forthcoming book Chronic City. Of the excerpt, packaged as the story "Lostronaut," I wrote, "This story was pretty awesome. It was the only speculative fiction to land in The New Yorker this year, not quite making up for the absence of Murakami and Saunders from the magazine's pages. This story is told in the form of letters from Janice, a 'Lostronaut' aboard some sort of space station, to her 'Dearest Chase.' She and her fellow astronauts are trapped in orbit by Chinese space mines and that's not even the worst of it for poor Janice. While the premise and epistolary style are intriguing, Janice's unique, irrepressible voice really carries the story."Readers are soon set to see the fruits of an ambitious project by R. Crumb, his illustrated Book of Genesis, a surprisingly faithful rendering of the first book of The Bible done in Crumb's unique style. Crumb talked about the project four years ago with Robert Hughes: "I was fooling around with Adam and Eve one day. Doodling about Adam and Eve. At first I did this satirical take off on Adam and Eve - lots of jokey asides and Jewish slang because they're Jewish right? God is Jewish... Finally I got over fooling around and I realized I just had to tell it straight."Booker winner A.S. Byatt's The Children's Book, according to publisher Knopf's description, "spans the Victorian era through the World War I years, and centers around a famous children's book author and the passions, betrayals, and secrets that tear apart the people she loves." The book is out already in the UK, where a review in the Telegraph included this intriguing aside: "Byatt's publisher is keen to present The Children's Book, her first novel for seven years, as an equal to Possession, the work that secured her reputation and her mass-market appeal nearly 20 years ago. It certainly compares to its popular predecessor in its daring and scope and, unlike the more cerebral parts of Byatt's output, is its equivalent in terms of storytelling and readability."J.M. Coetzee's Summertime is a follow up to Boyhood and Youth in Coetzee's series of memoirs. The NYRB recently published an excerpt.Quite a lot of sub-par material has been published in order to satiate the ravenous demand for Hunter S. Thompson's writing. Thompson's essays for ESPN in his later years were uneven at best, but fans may find something to like in The Mutineer, which Simon & Schuster says is "The highly anticipated final volume of the previously unpublished letters of Hunter S. Thompson, king of Gonzo journalism and one of the greatest literary figures of our time." Insofar as HST,in his latter years, may have been more entertaining and lucid in his letters, this may put The Mutineer slightly above the low bar set by other recent HST collections. On the other hand, the book is edited by Johnny Depp, implying that the book is more about venerating the cult of HST than unearthing new work on par with his best efforts.November will bring the publication of Michael Lewis' much anticipated chronicle of the financial crisis, The Big Short. In October last year, when economic uncertainty was at its height and fears were voiced in some rarefied quarters about the possibility of some sort of structural collapse, we wrote, "The world needs an exhaustive look at what happened in 2008 and why." There have already been several books about the collapse and what caused it, from The Two Trillion Dollar Meltdown to The Return of Depression Economics and the Crisis of 2008, but many readers have been waiting for a book by Lewis, both because of his long history writing about Wall Street's excesses and because of the powerful essay he penned on the topic for Portfolio magazine in November. Some readers may be weary of the topic by the time the book comes out, but it's sure to garner some interest.The great Philip Roth keeps churning out new novels. This year's offering is The Humbling, Roth's 30th novel. The publisher copy says "Everything is over for Simon Axler, the protagonist of Philip Roth's startling new book. One of the leading American stage actors of his generation, now in his sixties, he has lost his magic, his talent, and his assurance." The NY Times reported that yet another Roth novel, Nemesis, is due in 2010.Jonathan Safran Foer will have a non-fiction book out in November called Eating Animals, which most are guessing focuses on vegetarianism. An interview with Foer at Penguin's UK website would seem to confirm this. It doesn't mention the book, but the introduction says "Jonathan Safran Foer on why he doesn't eat anything with parents."Millions reader Laurie points us to My Bird by Fariba Vafi, translated from Farsi and originally published in Iran in 2002. The publisher Syracuse University Press says: "The narrator, a housewife and young mother living in a low-income neighborhood in [modern] Tehran...[is] forced to raise [her] children alone and care for her ailing mother... One of the most acclaimed and best-selling contemporary Iranian writers." Laurie adds, "The novel won several literary awards in Iran and, according to a 2005 article in the New York Times, Vafi never attended college and writes when her children are in school."2010: Probably the most anticipated book of next year will be the The Pale King, a coda to David Foster Wallace's sadly shortened life as a writer. We already know a fair amount about the book - it will center on an IRS agent - and three excerpts have been published already, "Good People" and "Wiggle Room" in The New Yorker and "The Compliance Branch" (pdf) in Harper's. A piece by D.T. Max went into some detail about The Pale King following DFW's death. Given the amount work that lies ahead for DFW's editors, this may be a second half of 2010 release.Also possibly arriving in the second half of 2010 is Jonathan Franzen's Freedom, which we are just beginning to hear about. The book is the long-awaited follow-up to Franzen's loved, hated, celebrated, Oprah-snubbing novel of nearly a decade ago, The Corrections. Franzen has been coy about the title - the book is reportedly called Freedom - but readers got a taste of what Franzen has in store in "Good Neighbors," an excerpt that was published in the New Yorker a few weeks ago.Joshua Ferris will follow up his blockbuster debut Then We Came to the End with The Unnamed. The Book Case writes, "The novel focuses on Tim and Jane Farnsworth, a long-married couple who seem to have it all. But Tim has twice battled a bizarre, inexplicable illness." Beattie's Book Blog mentions that the illness is that he "can't stop walking."John McPhee has a new book due out called Silk Parachute. McPhee wrote a 1997 Shouts & Murmurs piece called "Silk Parachute" about his elderly mother. It begins "When your mother is ninety-nine years old, you have so many memories of her that they tend to overlap, intermingle, and blur."Time Out NY says Sam Lipsyte's The Ask is about "Milo, a New York father who is on the brink of economic ruin, and covers themes including but not limited to 'work, war, sex, class, race, child-rearing, romantic comedies, Benjamin Franklin, cooking shows on death row, the old-model brain, the commercialization of sadness and the eroticization of chicken wire.'"British publisher Faber says Rachel Cusk's The Bradshaw Variations "is a powerful novel about how our choices and our loves and the family life we build will always be an echo - a variation - of a theme played out in our own childhood."In the comments or on your own blogs, let us know what books you're looking forward to.

Michael Lewis and The Big Short

The contributor's notes accompanying Michael Lewis' various pieces over the last year or so have hinted at a new book in the works for Lewis that promises to take on the economic crisis and offer a sequel of sorts to Liar's Poker, the book that he thought would take down Wall Street. Now we know the title, The Big Short: Inside the Doomsday Machine, and have a release date, November 2. (via Kottke)There's already a book out about the crisis that Lewis edited called Panic: The Story of Modern Financial Insanity, which has garnered mixed reviews from critics looking for a more substantial take on our economic woes.Elsewhere, Lewis takes a contrarian view of Warren Buffett, everyone's favorite billionaire, in his review of The Snowball: Warren Buffett and the Business of Life. (via The Daily Dish)
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