It would be difficult to better this tale of the specific events leading up to and culminating in the near total collapse of the global monetary system. The narrative is precise, understandable and highly readable.
Mr Lowenstein, unlike many others, does not need to resort to long-winded and completely unnecessarily complicated 'spiv-academic-speak' prose that seeks to camouflage the simplistic underlying nature of the irresponsibility and greed that took a grip of the financial markets. He fully understands what has gone on, which brilliantly manifests itself in his articulate and masterful treatise.
Essential reading for just about anyone wondering what the devil has gone on in our financial markets but is worried about understanding the explanation. Also essential reading for all economists, bankers, investment managers, rating agencies, accountants, regulatory authorities and others who contributed knowingly or otherwise to the debacle, in order to reflect and hopefully repair their ways. Alas, I doubt it though!