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 history�from the invention and widespread misuse of financial
instruments to the culpability of subprime mortgages�Lanchester deftly draws conclusions on the limitations of
financial and governmental regulation, capitalism�s 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.