Boomerang Travels in the New Third World (Paperback)
|Author: Michael Lewis|
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|The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation. Lewis turns a merciless eye on the world and the U.S. to expose a financial trap baited with humor and reckoning.|
From the Publisher:
The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.
Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a piñata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.
Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.
"Mr. Lewis's ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today's headlines about Europe's growing debt problems and the risk of contagion they now pose to the world." - Michiko Kakutani 09/27/2011 "His explanations of thorny financial processes are surprisingly compelling, his characters entertaining, and even when we know things aren't going to end well, there's a distinctly American optimism to his journalism." - Jessica Loudis 12/2011