I. O. U.: Why Everyone Owes Everyone and No One Can Pay

By John Lanchester
Read by James Langton

7.43 Hours 01/18/2010 unabridged
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    ISBN: 9781400185436

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The wildest story in the world these days is not fiction; it’s what’s really happening all around us as the world’s global economy has gone into freefall. How did we get here? What does it all mean? How could so many smart people be so dumb and believe their own hype? Accessibly, cleverly, and with mordant humor, journalist John Lanchester trots the globe in search of the answers to these questions—to Iceland, the scene of a catastrophic bank collapse; to Hong Kong, the city of his birth built at the altar of free-market capitalism; to the high-stakes leveraging of Wall Street; and to the tragedy of lost homes in small-town America. And in his capable hands, we see and understand what went wrong and why. Lanchester believes that the current crisis gives us an opportunity to bring about much-needed change, and a stronger and more compassionate system can emerge from the wreckage.

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Summary

Summary

The wildest story in the world these days is not fiction; it’s what’s really happening all around us as the world’s global economy has gone into freefall. How did we get here? What does it all mean? How could so many smart people be so dumb and believe their own hype?

Accessibly, cleverly, and with mordant humor, journalist John Lanchester trots the globe in search of the answers to these questions—to Iceland, the scene of a catastrophic bank collapse; to Hong Kong, the city of his birth built at the altar of free-market capitalism; to the high-stakes leveraging of Wall Street; and to the tragedy of lost homes in small-town America. And in his capable hands, we see and understand what went wrong and why.

Lanchester believes that the current crisis gives us an opportunity to bring about much-needed change, and a stronger and more compassionate system can emerge from the wreckage.

Editorial Reviews

Editorial Reviews

“Few if any [finance] books will be as pleasurable—and by that I mean as literate or as wickedly funny—as John Lanchester’s…Before you begin to cry, pick up a copy of I. O. U. Good humor and good company will be the things that’ll get us through.” New York Times
“This elegantly crafted little book…manages to be, by turns, acidic, frightening, and sharply funny. What it is not is boring….it all makes perfect sense. A.” Entertainment Weekly
“I.O.U. provides a fine introduction to the latest financial frenzy, with a suitable degree of outrage.” Wall Street Journal

Reviews

Reviews

Author

Author Bio: John Lanchester

John Lanchester is a contributing editor at the London Review of Books, and his work has appeared in the New York Times, New Yorker, and Observer, among others. He has won the Whitbread and Hawthornden Awards, as well as being awarded the 2008 E. M. Forster Award by the American Academy of Arts and Letters. He lives in London.

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Details

Details

Available Formats : Digital Download
Category: Nonfiction/Business & Economics
Runtime: 7.43
Audience: Adult
Language: English