Matt Kelland's Reviews > Boomerang: Travels in the New Third World

Boomerang by Michael   Lewis
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Apr 03, 2012

it was amazing
bookshelves: social, history, all-time-faves
Read from April 03 to 05, 2012

A superb book that explains the current financial crisis in terms that any layman can understand. Lewis looks at the way things went wrong in Iceland, Greece, Germany and California, and puts everything in very human terms, with candid interviews with those who were involved, either as architects of the disaster or swept up in the euphoric madness.

It leaves you with the inescapable conclusion that the entire money system of the world is irrevocably broken due to a combination of incompetence, fraud, greed, and refusal to face facts. The world's financiers devised ever more complex schemes, frequently crossing the line between loophole and illegality, and then sold them to the rest of the world, who leaped at the chance of a quick buck. When it all went wrong, as it inevitably would, the money men left taxpayers, businesses, and governments to pick up the tab.

It's an easy read, and very enlightening. It's just a shame there isn't a happy ending.
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05/24/2016 marked as: read

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