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Confidence Game Christine S. Richard

Confidence Game By Christine S. Richard

Confidence Game by Christine S. Richard


$29.88
Condition - Very Good
Out of stock
SeriesBloomberg

Summary

Confidence Game is a tale about the dangerous delusions that humbled the largest financial institutions and plunged countries into recession. Its heart is the story of how hedge fund manager Bill Ackman warned that MBIA Inc. , a little-known insurance company, had guaranteed nearly a trillion dollars of debt.

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Confidence Game Summary

Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff by Christine S. Richard

An expose on the delusion, greed, and arrogance that led to America's credit crisis The collapse of America's credit markets in 2008 is quite possibly the biggest financial disaster in U.S. history. Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff is the story of Bill Ackman's six-year campaign to warn that the $2.5 trillion bond insurance business was a catastrophe waiting to happen. Branded a fraud by the Wall Street Journal and New York Times, and investigated by Eliot Spitzer and the Securities and Exchange Commission, Ackman later made his investors more than $1 billion when bond insurers kicked off the collapse of the credit markets. * Unravels the story of the credit crisis through an engaging and human drama * Draws on unprecedented access to one of Wall Street's best-known investors * Shows how excessive leverage, dangerous financial models, and a blind reliance on triple-A credit ratings sent Wall Street careening toward disaster Confidence Game is a real world Emperor's New Clothes, a tale of widespread delusion, and one dissenting voice in the era leading up to the worst financial disaster since the Great Depression.

Confidence Game Reviews

This a riveting account of a tenacious investor, incompetent/apathetic regulators & analysts and a company that hid information, deceived investors and used every connection it had in its attempts to silence him. At points this reads like a John Grisham novel except it actually happened. For me, this is the best of the melt down books to date hands down. Todd Sullivan, valueplays.net, April 2010 ... Ackman s pursuit of MBIA spanned the two major crises of capitalism of the last decade, from the earlier era of corporate fraud prosecutions epitomized by Enron and its off-balance-sheet special purpose vehicles (SPVs), to the late credit debacle stemming from the collapse of the CDO house of cards. The Hedge Fund Law Report, May 2010

About Christine S. Richard

Christine S. Richard has covered financial markets in Washington, Hong Kong, Singapore, and New York. Her work on the bond insurers received awards from the Society of American Business Editors and Writers, the Deadline Club, the Newswoman's Club of New York, the New York Press Club, the New York State Society of Certified Public Accountants, and the National Association of Real Estate Editors. Her articles were included in a series on the municipal bond market that was nominated by Bloomberg News in 2007 for the Pulitzer Prize. She lives in Frenchtown, New Jersey, with her husband and their daughter.

Table of Contents

Preface. Acknowledgments. 1 The Meeting. 2 The Short Seller. 3 The Question. 4 Backlash. 5 The Worst That Could Happen. 6 The Trouble With Triple-A. 7 Unanswered Questions. 8 Crimes And Cockroaches. 9 Turning The Tables. 10 Scrutiny. 11 The Black Hole. 12 The Court Of Public Opinion. 13 The Insurance Charade. 14 When Crack Houses Become Collateral. 15 Storm Warnings. 16 An Uncertain Spring. 17 Apocalypse Now. 18 Parting The Curtain. 19 Ratings Revisited. 20 The Panic Begins. 21 Catastrophe And Revenge. 22 Time Runs Out. 23 Bailout. 24 Judgment Day. 25 The Nuclear Threat. Epilogue. Notes. Index.

Additional information

CIN0470648279VG
9780470648278
0470648279
Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff by Christine S. Richard
Used - Very Good
Hardback
John Wiley and Sons Ltd
20100528
352
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - Confidence Game