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

from anyotherbizniz

The best "easy read" explanation of the credit crunch I have read to date. There are better evidenced and more detailed analyses to be had, but this is the best one I have seen so far for providing an explanation to non-economists. Oh yes, and it's funny too.

from baswood

Lanchester writes regularly for the London Review of Books: a magazine that can be very left of centre in its approach and so it is no surprise that in his history of the 2008 credit crunch Lanchester is clear in his views that it was the fault of the bankers; aided and abetted by the insane righ...

from vguy

Fairly light trot through the recent financial crisis. Clear and explanatory with some good jibes and personal touches here and there, along the "Would you credit it?" lines. Makes clear how the thing got out of control because of the abandonment of personal interaction and the consequent collaps...

from Eyejaybee

A fascinating analysis of how the recent economic downturn was allowed to happen, and how deregulation (to the point of willful negligence) made the crisis not merely possible but virtually inevitable. Lanchester writes with his customary clarity and offers a startlingly cogent yet comprehensive ...

from KeithAkers

The strong point of this book was that it had a very good explanation of all those complicated financial instruments, the CDOs and derivatives and things. It showed that there was originally a rational purpose for them but that they are just being used for no particular purpose except speculation...