This week’s book review: “Boomerang: Travels in the New Third World” by Michael Lewis. Though I definitely liked “The Big Short” better, this book is a great companion piece to the financial crisis over in Europe. There’s some great insight on why the monetary departments aren’t working well in Iceland, Greece, Germany, Ireland and California.
I was in Europe during the big debate in the EU as to whether or not they should bailout Greece. I can say for certain that there was something larger than I could understand, at the time, of what was going on. I’m not a financial guy, so reading this book helped me understand a greater insight by way of how Michael Lewis writes, in a great textual narrative form. His travels to these places illustrate that there were some people who didn’t know what they were doing, some people who are competent not to be greedy, and a governor who tried to fix as much as he could. The book seems to fall short because the news of what is yet to come, and did happen in the last few months, isn’t revealed. However, just to get a greater insight into what’s going on in these banker’s minds over the pond is good enough for me.