As Greece implodes under the weight of its debt and the austerity measures being imposed, I was reminded by my colleague of a great essay by Michael Lewis (of Liar’s Poker fame) published in Vanity Fair, which talks about how Greece got itself into this mess.
A fascinating read (a real greek tragedy), which looks at what happened nationally in Greece, as a result of the cheap credit that washed through the world. As he puts it…
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 …. read on
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