The Kiss of Debt

Adding up the devastating cost of cheap money

In the equally entertaining and terrifying Boomerang, Michael Lewis (author of Moneyball) travels from flash point to flash point of the global financial crisis and reports back on how the avalanche of cheap credit from 2002 to '08--"when nations were let into the dark room with a pile of money and asked what would they like to do with it"--affected each.

[The following text appears within a chart. Please see hardcopy or PDF for actual chart.]


$15 billion

Amount the German bank IKB lost on U.S. subprime loans


"[Imagine that] you have a dog, and I have a cat...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!