I.O.U.

Simon & Schuster, 2010. Hardback. Very Good/Very Good. A copy that has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting.The spine remains undamaged. Part economic primer, part fiscal and historical analysis, "New Yorker" and "London Review of Books" contributor John Lanchester offers his brilliantl y witty, succinct overview of the current financial crisis. For most people, the reasons for the sudden collapse of our economy remain obscure. "I.O.U." is the story of how we came to experience such a complete and devastating financial implosion, and how the decisions and actions of a select group of individuals had profound consequences for America, Europe , and the global economy overall. John Lanchester begins with "The ATM Mome nt," that seemingly magical proliferation of cheap credit that led to an ex plosion of lending, and then deftly outlines the global and local landscape s of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history -- from the invention and widespread misu se of financial instruments to the culpability of subprime mortgages -- Lan chester draws perceptive conclusions on the limitations of financial and go vernmental regulation, capitalism's deepest flaw, and, most important, on t he plain and simple facts of human nature where cash is concerned. Weaving together firsthand research and superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for the expert and casual reader alike. "I.O.U." is an eye-opener of a book -- it may well provoke anger, amazement, or rueful disbelief -- and, as the.