Fool's Gold

Fool's Gold

How the Bold Dream of A Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed A Catastrophe

Book - 2009
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Traces the relationship between a team of JP Morgan banking gurus and the current financial crisis, documenting their invention of a bold variety of allegedly risk-free investments that sparked a frenzy in the banking world and may have directly contributed to the market crash.
Publisher: New York : Free Press, 2009.
ISBN: 9781416598572
Characteristics: x, 293 p. ;,24 cm.


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Jul 29, 2015

Excellent book explaining financial derivatives; their history and abuse.

rdelrosso2001 Dec 10, 2014

Very clear and concise explanation of how derivatives "got on steroids", and combined with a lack of regulation pushed the economy into Recession and almost another Great Depression.

I hope the Fed Chairwoman and others in power read this book.

Jun 04, 2013

[Update 2014: From 2008 to this very week of November, 2014, JPMorgan Chase, or Chase, has been fined repeatedly for various types of financial fraud, completely invalidating everything in this book, showing Ms. Tett to be a complete farce and fraudster for ever writing such completely fictional nonsense. For the very latest on Chase and their massive, massive securities fraud, please see Matt Taibbi's latest article: and, [Among the six or seven banks now found guilty of LIBOR rigging: JPMorgan Chase, of course!]

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