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In The Big Short Michael Lewis gave us the inside look at the investors who predicted the mortgage crisis. Boomerang tells the story behind the global financial crisis. If things looked bad when the investment banks were about to go under, you can imagine how it is going to be when Greece, France, and Spain default. Governments absorbed the bad investments for the financial services industry and they will pay when people's faith in their ability to back their debts falters.
A Hudson Booksellers Best Book of 2011.
— Justin, Atlanta
“Lewis shows again why he is the leading journalist of his generation.”—Kyle Smith, Forbes
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 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.