Boomerang - Michael Lewis

An excellent read about the building and unfolding of the financial crisis of 2009.  Surprisingly, for a financial book it is quite humourous.  It looks at five key countries - Iceland, Ireland, Greece, Germany and the U.S. at the municipal level (far scarier than at the national level financially...)
Basically it is an account of the cultural colour of untrammelled greed.  As Lewis puts it, it's as if each country was shut up in a black room with an unlimited pile of money - the book looks at what each country's culture decides to do in this situation.  He sums up each reaction in a pithy image.  For example, the Greek reaction is described as turning the government into a giant, money filled piñata and everyone gets to whack it with a stick to see what they get...
Some absolutely mind-boggling details about contracts and retirement settlements worked out in the early 2000's at the municipal level - a grab-what-you-can-while-it-lasts free for all.

Reference to  an interesting sounding book, American Mania, by Peter Whybrow, who argues that we are biologically unsuited to live in a society as materially successful as american society, as we can't maintain our self-regualtion.

Some great quotes from the mayor of a bankrupt Californian city on pages 202, 203, as well as the story of how his city got there.