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 pinata stuffed with cash … 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.
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Love Michael Lewis’ books. This is an hilarious (snarky) compilation of essays about the shocking financial crashes of Iceland, Greece, Ireland ….etc. A guilty pleasure.
This thin little book (only 212 pages) packs a depressing punch. Michael Lewis sets out to explore the causes and ramifications of the financial collapse in 2008 and reaches any number of disturbing conclusions. The new third world Lewis visits? Iceland, Greece, Ireland, Germany, and the United States, with an emphasis on California.
Germany, …