Boomerang

December 5, 2011
Essentially an offbeat travelogue, Lewis's latest examines the recent global financial crisis by visiting the locales that have faltered beyond reasonable expectation. Though journalistic, there is a distinctly anthropological approach to vivid depictions of how particular cultural values contributed to such a bizarre, devastating series of events. In his dynamic narrative, Lewis simplifies complex financial systems without condescension, applies a degree of rationality to absurd decisions, and presents key individuals' profiles without denigration. Dark, deadpan humor is injected throughout: Iceland as a nation of fishermen-cum-hedge fund managers with "no idea what they were doingâ; Greece's "fantastic messâ of scandalous monasteries, tax-evasion and top-down corruption; Ireland's busted banks and stratospheric losses debilitating a now "distinctly third worldâ country. Germany is singled-out for its "preternatural love of rulesâ and naiveté regarding the so-called "riskless assetâ while California tops the list of "America's scariest financial placesâ following their ratings downgrade and piling debts. Easily devoured in one sitting, Lewis (Moneyball) manages to gracefully explain what happened with a unique regard for both the strengths and weaknesses of humankind.

March 26, 2012
Part travelogue, part finance journalism, this latest from Lewis tours the countries hardest hit by the financial crisis of 2008âe.g., Iceland, Greece, and Irelandâtaking on complex economic issues filled with arcane minutiae and making them utterly compelling. Over the course of his travels, Lewis has numerous culture clashes: while touring Iceland he boards in a room with a natural heat source "so powerful... that some great grinding, wheezing engine must be deployed to prevent it from cooking me." Dylan Baker offers up folksy, everyman narration that is clear and entertaining. He both elucidates complicated financial passages for listeners and captures the spirit of Lewis's adventures. Additionally, Baker is adept at conveying Lewis's dryâand slightly morbidâsense of humor. A W.W. Norton hardcover.

January 1, 2011

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 of these societies are stumbling about as part of the "new Third World." As a greedy debtor nation, we're not so far behind. Lewis's books are always excellent and always best sellers, so this should be at the top of your list.

Copyright 2011 Library Journal, LLC Used with permission.

November 15, 2011
A world tour of nations that have collapsed financially or that played a role in the collapse of others. In his previous book, The Big Short (2010), Lewis dug deep into the housing-market failure that precipitated the economic collapse of 2007-08. Here the author tours Iceland, Greece, Ireland, Germany and California to compose a broader picture of what went wrong. Like Lewis' other bestsellers, this book is alternately wry, snarky, laugh-out-loud humorous, serious and, most importantly, filled with insights. The author is a master at explaining financially complex realms by casting them as narratives of individuals. In each place, he finds people famous, infamous and nearly anonymous who can fairly be rendered as villains or heroes. Each chapter started as an article for Vanity Fair, yet the seemingly disparate features coalesce nicely in the book. Lewis is willing to court danger by generalizing about the characteristics within each nation that led to unexpected consequences. As usual, the author delivers a nice balance of trenchant analysis and lucid writing. In regards to Greece, the most distressed nation of all, "it turned out, what the Greeks wanted to do, once the lights went out and they were alone in the dark with a pile of borrowed money, was turn their government into a piñata stuffed with fantastic sums and give as many citizens as possible a whack at it." An enlightening, scary journey.

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