Boomerang: Travels in the New Third World
The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a 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 piņata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German and the Irish wanted to stop being Irish.
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Boomerang: Travels in the New Third WorldUser Review - Barbara Hoffert - Book Verdict
The cheap credit available from 2002 to 2008 radically transformed societies worldwide, with Icelanders tossing aside their fishing gear to become bankers, for instance. Then the crunch came, and many ... Read full review
Review: Boomerang: Travels in the New Third WorldUser Review - Neil Pierson - Goodreads
The recipe for a financial debacle is: Ignorance + arrogance + greed. Then, like fine cuisine, each nation adds a little something special. According to Michael Lewis, Iceland's contribution was ... Read full review