I.O.U.: Why Everyone Owes Everyone and No One Can Pay

I.O.U.: Why Everyone Owes Everyone and No One Can Pay


By (author) John Lanchester

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  • Publisher: SIMON & SCHUSTER
  • Format: Paperback | 278 pages
  • Dimensions: 140mm x 216mm x 14mm | 240g
  • Publication date: 14 September 2010
  • Publication City/Country: New York, NY
  • ISBN 10: 1439169861
  • ISBN 13: 9781439169865
  • Edition statement: Reprint
  • Illustrations note: black & white tables
  • Sales rank: 178,487

Product description

For most people, the reasons for the sudden collapse of our economy still remain obscure. "I.O.U. "is the story of how we came to experience such a complete financial disaster, starting with the magical proliferation of credit that led to an explosion of lending on the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages Lanchester deftly draws conclusions on the limitations of financial and governmental regulation, capitalism s deepest flaw, and most important, on the plain and simple facts of human nature where cash is concerned. With newly updated, superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for expert and casual reader alike. Part economic primer, part fiscal and historical analysis, "I.O.U. "is an eye-opener of a book.

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Review quote

"Rare is the book about modern finance that has me nodding vigorously along with every sentence, pausing at points to muse that someone has finally, really, truly gotten it.... Such was the case with I.O.U." Moe Tkacik, DailyFinance"."com