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 piƱata 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.