Greed, cupidity, corruption, and a kind of gluttony so outrageous that it's laughable have always been part of business.
Consider, for example, the case of the Swedish match king. At one time, Ivar Kreuger, manufactured almost half of the world's matches, with monopolies in 16 countries. He had so much money that he was a reliable lender to many countries, becoming known as the 'saviour of Europe' for his willingness to give aid to banks crippled by World War I. At the time of the 1929 market crash, his was the most widely held stock in the world. When he killed himself three years later, the whole thing went up in flames.
The company's debts exceeded those of the entire Swedish government, as it was based on a gigantic pyramid scheme. Other examples in this book will include the story of Enron, of which "Fortune Magazine" was the first to break the news. Orange County bankcruptcy, Sotheby's and Al Taubman, and many more...
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Reads like a magazine, for better or worse
- Phil O.
So much scandal...so little time
Absolutely! I am getting my masters in economic crime and fraud management so this book was right up my alley. My classmates (and in theory my professors) would enjoy this just as much. It doesn't just focus on the most recent scandals, but goes back to scandals from the 1930s. Good narration as well.
- Christine Renner