This is a coherent explanation of how the recent market crisis arose. The first half of the book is partiularly impressive detailing the bungling of oversight, the ease with which bond ratings were obtained and the general greed of the market makers. Greenspan comes in for the most criticism but no one is left unscathed except perhaps Jamie Dimon of JP Morgan Chase.
The second half of the book is more a day by day description of the crtiical moments of the crisis in 2008 and early 2009. Lowenstein's attention to the little details make the characters in this drama all the more real. How he found these interesting tidbits, I would not pretend to know, but they add to the effect.

All in all a wonderful read!