kitkat2500's review against another edition
3.0
A quick and easy read about the impact of high debt levels on Ireland, Iceland, Greece, Germany and the U.S. Lewis makes some sweeping cultural generalizations that sometimes made me cringe. Also, he makes everything seem so very obvious AFTER the fact, without really providing the contextual nuances. Still, the book makes some interesting points and is a must read for anyone trying to figure out why these countries have gotten into their current mess.
rick2's review against another edition
2.0
Interesting but felt disorganized and forced. Michael seems to search for lessons to convey to the reader.
mschlat's review against another edition
3.0
More like 3.5 stars....
Very much a sequel in spirit to The Big Short, this work looks at the impact of easy credit in the 00's on Iceland, Greece, Ireland, and Germany. While the impacts are different (and often mitigated by what Lewis perceives as national characteristics --- e.g., Greeks are often corrupt, Germans are often fiscally conservative), the main point is almost always the same. You see bubbles, the increasing reliance on debt, the exaggerated valuation of assets, and the horrible use of over-designed financial instruments that don't differ much from rigged bets. Lewis ends with a discussion of the U.S. and how many similar problems now affect cities and municipalities (e.g., the bankrupt city of Vallejo).
As a read, it's not as coherent as some of Lewis's best, partly because you aren't following the same characters throughout the book. Lewis's take on the crisis is quite sobering, and you get a strong sense of how greed combined with perceived financial opportunity has ravaged some economies.
Very much a sequel in spirit to The Big Short, this work looks at the impact of easy credit in the 00's on Iceland, Greece, Ireland, and Germany. While the impacts are different (and often mitigated by what Lewis perceives as national characteristics --- e.g., Greeks are often corrupt, Germans are often fiscally conservative), the main point is almost always the same. You see bubbles, the increasing reliance on debt, the exaggerated valuation of assets, and the horrible use of over-designed financial instruments that don't differ much from rigged bets. Lewis ends with a discussion of the U.S. and how many similar problems now affect cities and municipalities (e.g., the bankrupt city of Vallejo).
As a read, it's not as coherent as some of Lewis's best, partly because you aren't following the same characters throughout the book. Lewis's take on the crisis is quite sobering, and you get a strong sense of how greed combined with perceived financial opportunity has ravaged some economies.
towercorvid's review against another edition
4.0
A nice counterpart/follow up to the Big Short, Lewis takes a look at how different countries reacted to having unlimited access to credit in the early 2000's, and the willful ignorance of the banks and people who got their hands on it.
While I'm sure a serious anthropologist might balk at Lewis's sweeping generalizations of various cultures, I at least found it insightful as to why for instance Greece or Iceland handled their unlimited pile of money than the United States or Germany.
The structure of the book is such that in each chapter I found myself going "I can't believe Iceland/Greece/Ireland thought that what they were doing was a good idea", until I got the the last chapter and realized that the same thing is going on in my backyard of the US.
My only complaint is the the book is pretty short. It's the perfect size for a little weekend read, I just wish it was longer and took a look at other countries (Spain for instance is notably missing). However, it's definitely worth a read.
While I'm sure a serious anthropologist might balk at Lewis's sweeping generalizations of various cultures, I at least found it insightful as to why for instance Greece or Iceland handled their unlimited pile of money than the United States or Germany.
The structure of the book is such that in each chapter I found myself going "I can't believe Iceland/Greece/Ireland thought that what they were doing was a good idea", until I got the the last chapter and realized that the same thing is going on in my backyard of the US.
My only complaint is the the book is pretty short. It's the perfect size for a little weekend read, I just wish it was longer and took a look at other countries (Spain for instance is notably missing). However, it's definitely worth a read.
eldiente's review against another edition
3.0
Audio version. Lack of discipline affects cultures, countries, and california. Note to self-live frugally, work hard.
Quick read, interesting journey.
Quick read, interesting journey.
altoid's review against another edition
4.0
Well, like many of Lewis's other books, I'm not going to sleep any better tonight after reading this...
laurenpedersen's review against another edition
4.0
Eye opening as to the global scope of the financial crisis, especially among governments.