History of Greed

History of Greed

Financial Fraud From Tulip Mania to Bernie Madoff

Book - 2010
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In his new book, History of Greed , noted financial fraud expert David E. Y. Sarna posits that the major scandals that came to light in 2008, like most of those in the last two hundred years are just the superficial manifestations of a system that, at its core, is based on fraud, greed and dishonesty. The root cause of the markets? malaise, in one word, is ?greed.' In two words, it is ?easy money.' The quest for easy money took many forms, and each greedy person involved in the financial world found his or her own lucrative niche. Through anecdotal examples, History of Greed provides an in-depth, behind-the-scenes look at the world of financial fraud, large and small. Millions of dollars are made every day (mostly by promoters and insiders) and lost every day (mostly by innocent but greedy investors) in the markets for these smaller stocks. The market for smaller stocks is a giant casino in which the dice are loaded and the cards are marked. Unlike some of the more exotic greed strategies, like hard-to-comprehend complex derivatives, this one is easy for everyone to understand. Sarna looks at smaller cases of fraud and major financial panics and fruads such as AIG, Goldman Sachs, Enron, and Twentieth Century Ponzi schemes.
Publisher: Hoboken, N.J. : Wiley, c2010.
ISBN: 9780470601808
0470601809
Branch Call Number: 364.163 SARNA
Characteristics: xvii, 398 p. ; 24 cm.

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This can be hard reading. There are so many different securites rules and regulation that he cites it can be hard to follow. At least Mr. Sarna is a good writer and can keep a very sloggy subject funny and moving.

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