Whoops! Why Everyone Owes Everyone & No One Can Pay
By John Lanchester
224 pages
Penguin, Allen Lane
Review by Mat Ward
If you don't know the difference between a credit default swap (CDS), a collateralised debt obligation (CDO) and a cheese sandwich, this highly readable book could help you in a painless, entertaining way.
Its author, John Lanchester, grew up in 1960s Hong Kong. He says the contrasts of obscene wealth and crushing poverty were “like a lab test in free-market capitalism”.