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Why Everyone Owes Everyone and No One Can Pay
Simon & Schuster
September 2010
On Sale: September 14, 2010
288 pages
ISBN: 1439169861
EAN: 9781439169865
Paperback
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Non-Fiction
For most people, the reasons for the sudden collapse of our economy still remain obscure. I.O.U. is the story of how we came to experience such a complete financial disaster, starting with the magical proliferation of credit that led to an explosion of lending on the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary historyโfrom the invention and widespread misuse of financial instruments to the culpability of subprime mortgagesโLanchester deftly draws conclusions on the limitations of financial and governmental regulation, capitalismโs deepest flaw, and most important, on the plain and simple facts of human nature where cash is concerned. With newly updated, superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for expert and casual reader alike. Part economic primer, part fiscal and historical analysis, I.O.U. is an eye-opener of a book.
 Media BuzzOn Point - December 30, 2010
On Point - December 6, 2010
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