{"product_id":"history-of-greed-isbn-9780470601808","title":"History of Greed","description":"\u003cp\u003eThe “greater fool” theory of economics states that it’s possible to make money by buying paper (securities), whether overvalued or not, and later, selling it at a profit because there will always be an even greater fool willing to pay the higher price. Many described in this book profited by peddling such worthless junk to foolish investors. But for some people—Bernie Madoff, Norman Hsu, Sholam Weiss, and “Crazie Eddie” Antar, aka the “Darth Vader of Capitalism”—overvalued securities were not enough. Outright fraud was their way of life. \u003ci\u003eHistory of Greed\u003c\/i\u003e is the compelling inside story of the names you know—Charles Ponzi, Baron Rothschild, Lou Pearlman—and the names you don’t—Isaac Le Maire, the world’s first “naked” short-seller. It’s also our story—why we ignore the lessons of the past and fall prey, most every time, to the promise of easy money.\u003c\/p\u003e\u003cp\u003eFor thousands of years, alchemists unsuccessfully tried to turn worthless base metals into gold. Where science failed at turning nothing into something, business succeeded. Sometimes we praise the creators of derivatives, collateral debt obligations, subprime mortgages, credit default swaps, or auction rate securities as Wall Street’s new financial wizards, the creators of “magic paper.” Other times, we vilify and prosecute them as scam artists. Sometimes, it’s hard to tell who is who. \u003ci\u003eHistory of Greed\u003c\/i\u003e reveals the inside secrets of how the markets really work, and how scam artists abuse them to gain an unfair edge or to outright steal. It describes how luftgescheft (“air business”), wizardry, dishonesty, and fraud are used to swindle people. Along with a comprehensive bibliography, \u003ci\u003eHistory of Greed\u003c\/i\u003e also details:\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e400 years of financial fraud—from everyday fraud to the odd and unusual \u003c\/li\u003e\n\u003cli\u003eAccounting fraud (phantom sales), stock option fraud (backdating), auction rate securities, hedge fund fraud, Ponzi schemes, promotion fraud (pump-and-dump scams), and money laundering\u003c\/li\u003e\n\u003cli\u003eHow to detect fraudulent schemes\u003c\/li\u003e\n\u003cli\u003eHow government regulation only fixes yesterday’s problems\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003eIf it’s too good to be true, it probably is. If they say you can’t lose, you probably will. \u003ci\u003eHistory of Greed\u003c\/i\u003e shows that there really is no such thing as a free lunch, while also detailing how not to become the “greater fool.”\u003c\/p\u003e  \u003cb\u003eForeword.\u003c\/b\u003e  \u003cp\u003e\u003cb\u003eAcknowledgments.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Selling Air.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Now?\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Crash Postmortem.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Greed, Hubris, and Lack of Supervision Did Investors In.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Why We Do It.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBubbles and Fraud.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Securities Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIts Long and Storied Past.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Perils of Greed.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIt’s All for the Easy Money.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Elements of Financial Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Case Study with \"Crazy Eddie\" Antar.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 \"Other People's Money\".\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe O.P.M. Leasing Fraud.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Smaller-Company Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe \"ISC\" Story.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Selling Long and Short.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBut Mostly Short.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Market Manipulation.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImproper Short Selling and Other Abuses.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 PIPEs.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvesting Unfairly.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Promotion Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePump and Dump.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Leaks, Front-Running, and Insider Trading.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTest Yourself.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Fictitious Volume.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Pump-and-Dump Scam with Intrigue.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Parachute into Prison.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eU.S. v. Schrenker\u003c\/i\u003e.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Affi nity Group Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eScamming Your Own Community.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Twentieth-Century Ponzi Schemes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLarger and Longer-Lasting Scams.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Hit Charade.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLou Pearlman.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Hedge Fund Ponzi Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHedge Funds Are for Big Boys.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 Madoff and the World’s Largest Ponzi Scheme.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Mother of All Ponzi Schemes.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 How Madoff Got Away with It.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWho Helped Plot in the Mother of All Ponzi Schemes; Who Can Be Made to Pay?\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 Madoff Plea and Its Aftermath.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGovernments Go after Merkin, Kohn, and Maybe Others in the Mother of All Ponzi Schemes.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23 Mopping up after Madoff.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLawyers Feast on Madoff Feeders in the Mother of All Ponzi Schemes.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 24 Other Recent Ponzi Schemes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMadoff was a Crook but He Had No Monopoly on Recent Ponzi Schemes.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 25 Stanford Group.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMassive $7 Billion, Multinational Fraud Comes to Light.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 26 Ultimate\u003c\/b\u003e \u003cb\u003e\u003ci\u003eChutzpah\u003c\/i\u003e.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Strange Tale of Marc Dreier, Esq.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 27 Detecting Fraudulent Financial Schemes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Much to Regulate? How Much to Verify?\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 28 Fraudulent Offerings.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Short Look.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 29 Auction-Rate Securities\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA $330 Billion Fraud?\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 30 $132 Million Tax-Free Exchange Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSection 1031.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 31 Not Smart.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Smart Online Trading Scam.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 32 Boiler Rooms.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhere the Heat Rises.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 33 Accounting Frauds.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWith Examples.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 34 Stock Option Frauds.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAlchemy That Benefi ts Insiders.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 35 Odd and Unusual Financial Frauds.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNot Your Everyday Fraud.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAfterword: What Does the Future Hold?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eNotes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAbout the Author.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eFurther Reading.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIndex.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"... a great addition to the library of the investor, historian and psychologist alike.\" (\u003ci\u003eUK-Analyst.com,\u003c\/i\u003e March 2011)\u003c\/p\u003e \u003cp\u003e\"... a potted history of human greed is indeed to be found here.\" (\u003ci\u003eDiplomat,\u003c\/i\u003e February 2011)\u003c\/p\u003e \u003cp\u003e\"It is sure to make any reader gasp at the sheer inventiveness and persistence of the world's fraudsters.\" (\u003ci\u003eIrish Independent.ie,\u003c\/i\u003e January 2011)\u003c\/p\u003e \u003cp\u003eDAVID E. Y. SARNA is a serial entrepreneur who founded three companies, sold one, and successfully took two public. He is also a technologist and a writer. Mr. Sarna is also the creator of several popular blogs, including GreedWatcher.com\u003csup\u003eSM\u003c\/sup\u003e, GoogleGazer.com\u003csup\u003eSM\u003c\/sup\u003e, and EyeOnTheCloud.com\u003csup\u003eSM\u003c\/sup\u003e. He has authored four books, written over 120 articles, was a founding regional director of the Microsoft Developers Network, and is a popular and award-winning speaker with multiple national television appearances on Fox, CNN, and MSNBC.\u003c\/p\u003e  \u003cp\u003eThe “greater fool” theory of economics states that it’s possible to make money by buying paper (securities), whether overvalued or not, and later, selling it at a profit because there will always be an even greater fool willing to pay the higher price. Many described in this book profited by peddling such worthless junk to foolish investors. But for some people—Bernie Madoff, Norman Hsu, Sholam Weiss, and “Crazie Eddie” Antar, aka the “Darth Vader of Capitalism”—overvalued securities were not enough. Outright fraud was their way of life. \u003ci\u003eHistory of Greed\u003c\/i\u003e is the compelling inside story of the names you know—Charles Ponzi, Baron Rothschild, Lou Pearlman—and the names you don’t—Isaac Le Maire, the world’s first “naked” short-seller. It’s also our story—why we ignore the lessons of the past and fall prey, most every time, to the promise of easy money.\u003c\/p\u003e\u003cp\u003eFor thousands of years, alchemists unsuccessfully tried to turn worthless base metals into gold. Where science failed at turning nothing into something, business succeeded. Sometimes we praise the creators of derivatives, collateral debt obligations, subprime mortgages, credit default swaps, or auction rate securities as Wall Street’s new financial wizards, the creators of “magic paper.” Other times, we vilify and prosecute them as scam artists. Sometimes, it’s hard to tell who is who. \u003ci\u003eHistory of Greed\u003c\/i\u003e reveals the inside secrets of how the markets really work, and how scam artists abuse them to gain an unfair edge or to outright steal. It describes how luftgescheft (“air business”), wizardry, dishonesty, and fraud are used to swindle people. Along with a comprehensive bibliography, \u003ci\u003eHistory of Greed\u003c\/i\u003e also details:\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e400 years of financial fraud—from everyday fraud to the odd and unusual \u003c\/li\u003e\n\u003cli\u003eAccounting fraud (phantom sales), stock option fraud (backdating), auction rate securities, hedge fund fraud, Ponzi schemes, promotion fraud (pump-and-dump scams), and money laundering\u003c\/li\u003e\n\u003cli\u003eHow to detect fraudulent schemes\u003c\/li\u003e\n\u003cli\u003eHow government regulation only fixes yesterday’s problems\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003eIf it’s too good to be true, it probably is. If they say you can’t lose, you probably will. \u003ci\u003eHistory of Greed\u003c\/i\u003e shows that there really is no such thing as a free lunch, while also detailing how not to become the “greater fool.”\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989366128869,"sku":"NP9780470601808","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470601808.jpg?v=1761783834","url":"https:\/\/k12savings.com\/es\/products\/history-of-greed-isbn-9780470601808","provider":"K12savings","version":"1.0","type":"link"}