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From Vanity Fair

September 14th, 2010 Leave a comment Go to comments

“The tsunami of cheap credit that rolled across the planet between 2002 and 2007 has just now created a new opportunity for travel: financial-disaster tourism. The credit wasn’t just money, it was temptation. It offered entire societies the chance to reveal aspects of their characters they could not normally afford to indulge. Entire countries were told, “The lights are out, you can do whatever you want to do and no one will ever know.” What they wanted to do with money in the dark varied. Americans wanted to own homes far larger than they could afford, and to allow the strong to exploit the weak. Icelanders wanted to stop fishing and become investment bankers, and to allow their alpha males to reveal a theretofore suppressed megalomania. The Germans wanted to be even more German; the Irish wanted to stop being Irish.”

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  1. Lucy
    September 15th, 2010 at 12:46 | #1

    Two exceptional books on the matter: one is ‘the big short’, the other is ‘black swan’.
    I have first one on PDF, if you want to read it – amazing, especially because it’s the Aspergers guy who made billions from the tsunami…

  2. admin
    September 15th, 2010 at 13:03 | #2

    Thank you for the comment, Lucy. I have heard about both of these books, they are on my (fairly long) reading list.

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