An eye-opening window onto Wall Street’s destructive culture of unchecked hubris and a harrowing thrill ride into the...
The sordid saga of debauched Wall Street hedge fund manager Sam Israel and how he lost more than $100 million—and most of his sanity.
At one time, Israel could do no wrong. He had the magic touch on Wall Street, seemingly able to turn anything he touched into gold. Never mind that his financial prowess as a trader stemmed from a steady font of insider trading information provided by some of the most conniving players in the stock market. When Israel’s fraud was discovered and his fund inevitably collapsed, he fell prey to even more pernicious con men than himself. Blinded by the promise of billions of dollars and an escape hatch from his sinking firm, Israel decided to roll the dice and bet on the wild schemes of Robert Booth Nichols, an eccentric figure claiming to be an ex-CIA asset. Nichols promised Israel entrance into the dangerous world of international high finance known as the “Shadow Market,” a secretive world where the strapped financier could recoup his losses and even amass a new fortune. However, the Shadow Market didn’t really exist. Or did it? The line between fact and fantasy becomes elusive in the second half of this mind-bending yarn, but Lawson (co-author: Brotherhoods: The True Story of Two Cops Who Murdered for the Mafia, 2006) somehow manages to make sense of it all. He provides a penetratingly comprehensive profile of a crooked trader run amok, and he nimbly traverses the labyrinthine depths of a worldwide banking con that managed to involve looted Federal Reserve notes and the JFK assassination. The author is sympathetic to Israel—at least he, unlike Bernie Madoff, tried to pay back those he swindled—but he doesn't sugarcoat his crimes.
An eye-opening window onto Wall Street’s destructive culture of unchecked hubris and a harrowing thrill ride into the unraveling mind of a desperate operator.Pub Date: July 10, 2012
ISBN: 978-0-307-71607-1
Page Count: 352
Publisher: Crown
Review Posted Online: May 30, 2012
Kirkus Reviews Issue: June 15, 2012
BOOK REVIEW
BOOK REVIEW
Dogged original research and superb narrative skills come together in this gripping account of pitiless evil.
Greed, depravity, and serial murder in 1920s Oklahoma.
During that time, enrolled members of the Osage Indian nation were among the wealthiest people per capita in the world. The rich oil fields beneath their reservation brought millions of dollars into the tribe annually, distributed to tribal members holding "headrights" that could not be bought or sold but only inherited. This vast wealth attracted the attention of unscrupulous whites who found ways to divert it to themselves by marrying Osage women or by having Osage declared legally incompetent so the whites could fleece them through the administration of their estates. For some, however, these deceptive tactics were not enough, and a plague of violent death—by shooting, poison, orchestrated automobile accident, and bombing—began to decimate the Osage in what they came to call the "Reign of Terror." Corrupt and incompetent law enforcement and judicial systems ensured that the perpetrators were never found or punished until the young J. Edgar Hoover saw cracking these cases as a means of burnishing the reputation of the newly professionalized FBI. Bestselling New Yorker staff writer Grann (The Devil and Sherlock Holmes: Tales of Murder, Madness, and Obsession, 2010, etc.) follows Special Agent Tom White and his assistants as they track the killers of one extended Osage family through a closed local culture of greed, bigotry, and lies in pursuit of protection for the survivors and justice for the dead. But he doesn't stop there; relying almost entirely on primary and unpublished sources, the author goes on to expose a web of conspiracy and corruption that extended far wider than even the FBI ever suspected. This page-turner surges forward with the pacing of a true-crime thriller, elevated by Grann's crisp and evocative prose and enhanced by dozens of period photographs.
Dogged original research and superb narrative skills come together in this gripping account of pitiless evil.Pub Date: April 18, 2017
ISBN: 978-0-385-53424-6
Page Count: 352
Publisher: Doubleday
Review Posted Online: Feb. 1, 2017
Kirkus Reviews Issue: Feb. 15, 2017
BOOK TO SCREEN
BOOK TO SCREEN
BOOK TO SCREEN
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
SEEN & HEARD
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