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Boomerang

Travels in the New Third World
Lewis, Michael (Book - 2011 )
Average Rating: 4 stars out of 5.
Boomerang
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Presents the author's darkly humorous investigation of the effects of the 2008 financial bubble on other countries before taking aim at greedy debtors in California and Washington, D.C.
Authors: Lewis, Michael (Michael M.)
Title: Boomerang
travels in the new Third World
Publisher: New York : W.W. Norton & Co., c2011
Edition: 1st ed
Contents: The biggest short
Wall Street on the tundra
And they invented math
Ireland's original sin
The secret lives of Germans
Too fat to fly
Summary: Presents the author's darkly humorous investigation of the effects of the 2008 financial bubble on other countries before taking aim at greedy debtors in California and Washington, D.C.
Local Note: PromptCat
(10/11)ss
ISBN: 0393081818
9780393081817
Branch Call Number: Non-F 330.905 Lew
Statement of Responsibility: Michael Lewis
Subject Headings: Financial crises United States History 21st century International finance Global Financial Crisis, 2008-2009
Topical Term: Financial crises
International finance
Global Financial Crisis, 2008-2009
LCCN: 2011028241
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Jan 17, 2013
  • Khrushchev rated this: 4.5 stars out of 5.

A fun romp through the economics of countries newly introduced to the woes of a downturn. Lewis explains the reasons behind each one's individual reasons for collapse quite well (though you would probably need at least some prior knowledge of economics to gain the full enjoyment this book offers). Well researched, well written, well done Michael Lewis.

Dec 17, 2012
  • Sanrin rated this: 5 stars out of 5.

Michael Lewis asks the question, "What would you do if you were in a room alone with a pile of money?" He poses this question to Ireland, Greece, Iceland, Germany and the US, and demonstrates how each country responded in a unique way, and why. Intelligently written and very insightful in helping understand the financial crisis in different contexts. Also makes you wonder when California will implode ...

Dec 17, 2012
  • LazyNeko rated this: 4 stars out of 5.

A droll financial-disaster tour through Iceland, Greece, Ireland, Germany, and California. It would all be highly amusing if it weren't so sadly true.

Oct 04, 2012
  • splibrary55 rated this: 2 stars out of 5.

Good overall, chatty analysis and summary of what went wrong in several countries' economies including Iceland, Ireland and Greece. Lacks a clear plan of action to fix/avoid these disasters, and leaves the reader wondering why Lewis does not step up to a change agent role.

This book is better than I expected. I finished it from cover to cover in two days.

Sep 01, 2012
  • scathing_haiku rated this: 3.5 stars out of 5.

At least Vallejo / can boast to builders that they / need not search for elves

Aug 02, 2012
  • binational rated this: 4 stars out of 5.

The best explanation - by far - that I have read about the Greek economic debacle. Corruption is embedded so deep in Greek culture that one can easily understand the reluctance by Germans and other northern Europeans to bail out people who resolutely refuse to pay taxes yet insist to retire on public pensions at age 55. Blew my mind.

Jun 26, 2012
  • PrairieStar rated this: 4.5 stars out of 5.

Well written and humorous but the subject matter makes you want to cry while laughing. One chapter was about California budget and pension woes.

May 09, 2012
  • VPL Career Commons rated this: 4 stars out of 5.

One of the great things about Michael Lewis is how well he writes for the lay audience. He has a great sense of humour and irony and an eye for the absurd. These are serious matters and if his light touch helps to get more people thinking about our financial situation we can only applaud. There will be many more volumes written about the mess we find ourselves in. Enjoy the lighthearted ones!

May 04, 2012
  • TtamioO rated this: 5 stars out of 5.

Michael Lewis tells us humorously why Europe is in the serious financial trouble it's in, and then not so humorously why the U.S. is next. It's most likely he will not be taking a another vacation anytime soon to the countries whose people he had so thoroughly eviscerated and hopefully if he need the services of the police or fire department, they will not recognize his name.

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Apr 24, 2012
  • elinpat rated this: 5 stars out of 5.

Hilarious account of what went wrong in Europe in those countries so badly in debt. Also a pretty solid summary of how things transpird.

Mar 08, 2012
  • AnneDromeda rated this: 4 stars out of 5.

A while back, I reviewed a Michael Lewis book called *The Big Short*, all about the personalities and events that built the Great Recession. In the time it took to write and release that book, Lewis stumbled across a few shrewd financiers who were predicting a global crash based on the same kind of accounting principles that shook America. Lewis initially dismissed these characters as people who'd gotten lucky predicting one crash, and now thought they had a talent for predicting crises. But, by the time he was promoting *The Big Short*, Iceland and Greece were deep in trouble, and Lewis knew there was more to the story.<br />

*Boomerang*, then, is all about how the American banking system's creative approach to credit tranching spread round the world. Again, Lewis takes the time to introduce readers to the characters making the big financial decisions. He makes some broad and questionable arguments extending generalized national character traits (Icelandic, Greek, Irish, German) to their money management techniques, but the effect is meant to be humorous and it is. In fact, the whole book's tone is gleefully irreverent – toward the money gods, toward religion, and toward the crisis itself. It's not that the recession hasn’t had dire consequences; Lewis knows it has, and that it may get worse. He's fundamentally optimistic, though, and willing to see the abundant humour in the decision making processes of nations, banks and individuals who inadvertently set up the crisis. Either it gets better or it doesn't – either way, you have to laugh. With its wry approach and clear, approachable style, *Boomerang* is recommended for any readers interested in the factors driving the credit crisis around the world.

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Dec 17, 2012
  • LazyNeko rated this: 4 stars out of 5.

What happens when a society loses its ability to self-regulate, and insists on sacrificing its long-term self-interest for short-term rewards? How does the story end?

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app07 Version sidamo (sidamo) Last updated 2014/09/17 15:16