BLOOD ON THE STREET

This Charles Gasparino book is straightforward and accessible. It tells of the rise and fall of the major players involved in the dotcom, telecom bubble (1998-2002). The real persons presented are quiet unattractive, deceptive, dishonest, greedy and wholly unlikeable.

The book sets up facts and bits of law to attract prosecutors. The exact legal jeopardy each person is at different brokerage houses/banks is unclear; many persons are doing the same things. Superiors frequently drop into decisions with advice or comments; all that passes by.

What happens is adequately explained, but these actions will happen again. The major players, underlings who know nothing except how to talk and expertly to repeat what they’ve heard, come from nowhere, are given huge responsibilities and are allowed to do what they want provided their activities make money. They shoulder the ultimate responsibility, not the bosses.

It comes to an end. Outside political forces come in and make arrangements: HOWEVER, if X Brokerage cannot do business ever again, that’s the end of the American economy. Twice from 1999 to 2009 did brokerage firms almost crumble and cause an economic disaster in the United States. Those businesses remain in business today.

 

The reader gets the feeling that is stakes had been driven through the hearts of the Wall Street banks and firms in 1998-2002, perhaps the mortgage mess of 2007-2008 may not have happened.

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s