Ponzi's Scheme
(Mitchell Zuckoff)
I really enjoy a true story that reads with the pacing and suspense of a good novel. Ponzi's Scheme by Mitchell Zuckoff does that and more.The man whose name lives in infamy, attached to a financial scheme that pays outlandish returns as long as new investors keep coming, is a very interesting character as portrayed by Zuckoff. The book also captures the flavor of Boston around 1920, where Ponzi shared the stage with other colorful characters such as James Michael Curley and Babe Ruth--until the Bambino was sold to the hated Yankees to fund the production of "No No Nanette".Ponzi's story, as told by Zuckoff, is an interesting contrast to the current Enron trials and other corporate scandals. While thousands of people surely lost significant amounts of money through Ponzi's scheme, I couldn't help but empathasize with him a bit, which certainly can't be said regarding Enron execuitves.Ponzi immigrated to America from Italy as a young man, anxiously waiting to see the streets of gold. He ran into hard luck for quite some time after discovering the reality of cobblestone streets. After running through many ideas for realizing his American dream, helatched onto a plan that within a few months had hundreds of working class folks lining upto invest their savings.His pitch was that he had a way of capitalizing oncurrency fluctuations to make a hefty profitfrom postal reply coupons. Zuckoff deftly takes us through the drama of Ponzi trying to figure out how to actually turn a legitimate profit before investigators and other forces of reality burst his bubble.A highly recommended read!
Resumos Relacionados
- Pride And Prejudice
- O Que São Hyips?
- Mutual Fund Investment
- Investing In A Post-enron World
- Como Funciona O Esquema Ponzi?
|
|
