Whoops! – John Lanchester (2010)

With great wit Lanchester describes what went wrong during the prelude to the financial crisis and who is to blame (answer: the risk takers, i.e.bankers, but also you and me). In plain language CDO’s, securitization and the difference between debt and deficit are explained, helping to better grasp the painful reality: Why everyone owes everyone and no one can pay, as the subtitle of the book goes. Made me laugh and think (when is enough really enough?) at the same time.

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