The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals

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The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals image
ISBN-10:

1586487434

ISBN-13:

9781586487430

Author(s): Partnoy, Frank
Edition: 1
Released: Apr 14, 2009
Publisher: PublicAffairs
Format: Hardcover, 288 pages

Description:

At the height of the roaring '20s, Swedish émigré Ivar Kreuger made a fortune raising money in America and loaning it to Europe in exchange for matchstick monopolies. His enterprise was a rare success story throughout the Great Depression.

Yet after Kreuger's suicide in 1932, the true nature of his empire emerged. Driven by success to adopt ever-more perilous practices, Kreuger had turned to shell companies in tax havens, fudged accounting figures, off-balance-sheet accounting, even forgery. He created a raft of innovative financial products many of them precursors to instruments wreaking havoc in today's markets. When his Wall Street empire collapsed, millions went bankrupt.

Frank Partnoy, a frequent commentator on financial disaster for the Financial Times, New York Times, NPR, and CBS's 60 Minutes,” recasts the life story of a remarkable yet forgotten genius in ways that force us to re-think our ideas about the wisdom of crowds, the invisible hand, and the free and unfettered market.

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