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I.O.U. : why everyone owes everyone and no one can pay by Lanchester, John is a history book available to read on EtoBox.

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From Publishers Weekly Starred Review. With clarity and a conversational style often (sometimes deliberately) lacking in the financial industry and its coverage, British journalist Lanchester (The Debt to Pleasure) takes readers on a comprehensive global tour of 2008's economic meltdown, focusing on each guilty parties' contributions to-and missed opportunities to halt-the worldwide crisis. Starting with the political buildup and then marching through the field of "banksters," regulators, mortgage companies and everyone else in a position to know better, Lanchester illustrates exactly how loans from predatory and incompetent players wound up being sold as triple-A investments, and how a subsequent housing market dip toppled the financial system. By prioritizing the financial sector and tenets of laissez-faire capitalism (to the point that it "became a kind of secular religion"), those in charge of the markets failed to identify the growing systemic dangers; meanwhile, those responsible to the public acted as if benefits for financial institutions also benefited every economic participant, no matter how small. Laypeople seeking to understand the crisis, and what it means for their

Who reads I.O.U. : why everyone owes everyone and no one can pay?

Author

Lanchester, John

Publisher

Simon & Schuster, Incorporated

Published

2010

Language

EN

ISBN

9781439169872

Category

history

Subjects

Economics, Fiction, Political Science

Rating

3.99 / 5 (1,162 ratings)

Updated

2026-03-13