Boomerang: Travels In The New Third World Hardcover – Oct 4 2011
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“Michael Lewis possesses the rare storyteller’s ability to make virtually any subject both lucid and compelling. . . . Combining his easy familiarity with finance and the talents of a travel writer, Mr. Lewis sets off in these pages to give the reader a guided tour through some of the disparate places hard hit by the fiscal tsunami of 2008, like Greece, Iceland and Ireland, tracing how very different people for very different reasons gorged on the cheap credit available in the prelude to that disaster. The book — based on articles Mr. Lewis wrote for magazine — is a companion piece of sorts to , his bestselling 2010 book about the fiscal crisis. . . . Mr. Lewis’s ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today’s headlines about Europe’s growing debt problems and the risk of contagion they now pose to the world.” — Michiko Kakutani (New York Times)
“Lewis’s rare gift as a guide through the world of credit default swaps and sovereign debt doesn’t come simply from his deep understanding of how the global financial system works . . . also his skill as a storyteller, his ability to tell the larger tale through fascinating human stories of greed, excess, and self-delusion.” — Chuck Leddy (Boston Globe)
“[Lewis’s] explanations of thorny financial processes are surprisingly compelling, his characters entertaining.” — Jessica Loudis (BookForum)
About the Author
Michael Lewis, the best-selling author of The Undoing Project, Liar’s Poker, Moneyball, The Blind Side, and The Big Short, among other works, lives in Berkeley, California, with his wife and three children.
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Top Customer Reviews
In a nutshell these countries get a hold of cheap foreign credit, and go into a wild financial mania. They also abandon all previous forms of prudent economic management. The details regarding the Greek economy, are beyond anything I have ever heard before. In fact, the Greek situation makes the former Tulip Mania and Dot Com Bubble, seem rather tame and orderly. The Greek debt problems have still not been fully resolved, so this makes the details all the more engaging.
This is a small book, but the message delivers a big impact. The reader will be left with, a much better understanding of the current global financial dilemma. This book was hard to put down, and a very good read. Both general and financially interested readers, will be entertained and astonished.
Lewis travels to the major hot-spots: Iceland, Greece, Ireland, Germany and the US, noting the similarities and the differences in each of their situations, but mostly letting the individual characters who populate his essays tell the stories. Descriptions of people are rich, humorous, playful and cutting, but never mean spirited - the kind of descriptions your friends might use at your roast. Descriptions of countries' national characters and of specific places are equally pithy; 'it's the sort of place bankers stay because they think it's where the artists stay.'
As expected, bank leadership, politicians and regulators fare poorly in Lewis' crosshairs, and although they play small walk-on parts, investment banks such as Merrill Lynch come across as morally bankrupt and duplicitous, far worse than their aforementioned dimwitted but greedy co-conspirators. Lewis is finance literature's equivalent of television's Jon Stewart, calling all out on their motives, their revisionist explanations, and their mistakes. Ultimately, though, Lewis settles on the root cause - it's us; it's human nature and short term thinking. One of his interviewees sums it up best when he says about the virtual bankruptcy of his city, 'I think we've suffered from a series of mass delusions.'
As much as Charles Kindleberger's excellent book ...Read more ›
Most recent customer reviews
An excellent read five years after it was written as we are mostly papering over the same problems, despite some progress. Read morePublished 3 months ago
This was the first book I'd read by Michael Lewis. He is a really good writer (I have since read three other of his books). Read morePublished 11 months ago by Vince Marinelli
fantastic read that explains how the greedy american bankers screwed most of the developed world in 2008
Michael Lewis is a very funny and entertaining writer. Read more
Michael Lewis is a good writer, a little cynical sometimes and also a king at spotting hilarious behavior in the financial world; in the case of boomerang, he describes four... Read morePublished 14 months ago by Michel Hebert
One of the most interesting books of this type that I have read. The mind boggles at the greed, arrogance and stupidity of those who are supposedly leading the financial community... Read morePublished on July 17 2014 by Edmund Burke
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