Book description
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 . 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 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.
Christine S. Richard is a reporter with Bloomberg
News. She has covered financial markets from Washington, Hong Kong,
Singapore, and New York. Her work has been recognized by organizations
including the New York Society of Certified Public Accountants, the
National Association of Real Estate Editors, the New York Press Club,
and the Newswomen's Club of New York.
