Whoops!: Why everyone owes everyone and no one can pay

There's probably a word in German for that feeling you get when you can understand something while it's being explained to you, but lose hold of the explanation as soon as it stops. A lot of writing about the credit crunch has that effect: you can grasp it while it's going on, and then as soon as it's over, you can no longer remember the difference between a CDO, a CDS, an MBS, and a toasted cheese sandwich. Whoops! makes it possible for all of us to grasp how we found ourselves in this predicament.What went wrong? In 2000, the total GDP of Earth was $36 trillion. At the start of 2007 it was $70 trillion. Today that growth has gone suddenly and sharply into decline, with an effect roughly resembling that of putting a car into reverse while doing seventy down a motorway.John Lanchester travels with a cast of characters - including reckless banksters, snoozing regulators, complacent politicians, predatory lenders, credit-drunk spendthrifts, and innocent bystanders to understand deeply and genuinely what is happening and why we feel the way we do.

Title - Whoops!: Why everyone owes everyone and no one can pay

Edition -

Author - John Lanchester

ISBN 13 - 9781846142857

Imprint - Allen Lane

Publisher - Penguin Books Ltd

Date Published - 28/01/2010

Prize -

No. of pages -

Binding Type - Hardback

Dimensions - 144 x 222 x 25mm

Weight - 379 g

Languages - English