Blood on the Street is a riveting account of the Wall Street scam in which ordinary investors lost literally billions of dollars -- in many cases their life savings -- in one of the greatest deceptions ever, by the crack reporter who broke the original story. In one of the most outrageous examples of dirty dealing in the history of Wall Street, hundreds of millions of dollars in illicit profits were made during the booming 1990s as a result of research analysts issuing positive stock ratings on companies that kicked back investment banking business. Now, for the first time, award-winning journalist Charles Gasparino reveals the whole fascinating story of greed, arrogance, and corruption. It was Gasparino's front-page reporting in The Wall Street Journal that brought the story to national attention and spurred New York State attorney general Eliot Spitzer to launch an official probe. Now, Gasparino goes behind his own headlines to tell the inside story of this spectacular swindle -- with revelations from his unprecedented access to never-before-published depositions and documents, including e-mail exchanges leading all the way up to Citigroup CEO Sanford Weill. Drawing on his research and interviews with industry insiders, Gasparino takes readers into the back rooms of Wall Street's top investment firms and captures the outsize personalities of three key players: Salomon Smith Barney's Jack Grubman, a braggart with one of the largest salaries on Wall Street; Merrill Lynch's Henry Blodget, the Yale graduate who hyped his way to the top of the research pyramid; and Morgan Stanley's Mary Meeker, the "Queen of the Internet," who foresaw the market catastrophe but gave in to the pressures Blood on the Street shows how regulators, like former SEC chairman Arthur Levitt, allowed the deceptive practices to fester and grow during the 1990s bubble, leaving the door open for a then- little-known attorney general from New York State to step in and make his mark by holding Wall Street accountable. Gasparino provides the first major account of Spitzer's rise to prominence, detailing how the attorney general pursued key players to build his case against Wall Street, including his shifting allegiance to the powerful New York Stock Exchange chairman Richard Grasso. A fast-paced narrative rich in sharp insights, Blood on the Street is the definitive book on the financial debacle that affected millions of Americans.
Rags-to-riches stories abound in American lore, but even Horatio Alger would have been hard-pressed to write one as powerful as Richard Grasso's: the son of a working-class family whose childhood dream was to become a cop. He grew up in New York City's outer boroughs, far removed from the marble halls, expensive suits, and imported cigars of the New York Stock Exchange. Here is the riveting story of how he rose to become the most influential CEO in the Exchange's history. Minus the tony upbringing, affluent prep schools, or inside connections that were de rigueur for top Wall Street players, Grasso would master the subtle deal-making and politics necessary to succeed in the most competitive business on Earth. But despite his successes, Grasso would soon sow the seeds of his own downfall, an event that would change the Exchange forever. The King of the Club paperback edition, featuring a full update on the story, chronicles the amazing rise, fall, and possible rise again of Richard Grasso, and also tells the modern history of the all-powerful institution that he came to symbolize: The New York Stock Exchange.
The ongoing tumult in financial markets and the global economy began when some of our most esteemed financial institutions, our government, and even average citizens abdicated their collective responsibilities, eventually selling out investors and selling off the American Dream itself. From critically acclaimed investigative journalist and CNBC personality Charles Gasparino comes a sweeping examination of the most volatile, anxiety-ridden era in our nation's socioeconomic history. The winner of the 2009 Investigative Reporters and Editors Award for Books, The Sellout traces the recent implosion of the financial services business back to its roots in the late 1970s, when Wall Street embraced a new business model predicated on enormous risk. Gasparino reveals a startling trail of culpability—from the government bureaucrats who crafted housing policies to the Wall Street firms that underwrote and invested in risky debt, to the mortgage sellers who indiscriminately handed out loans, and finally to the homeowners who thought they could afford mansions on blue-collar wages.
A New York Times bestselling author and veteran Fox Business financial journalist’s explosive deep-dive into the progressive madness that has infected and corrupted the world’s biggest corporations, threatening the stability of the global economy—and life as we know it. How did a bunch of rich dudes who run corporate America become the tools of left-wing radicals? Intimidated by activists on the left, virtually every major corporation in America has embraced woke politics. For years, these businesses could get away with progressive virtual signaling without worrying about alienating customers. Then the anti-woke counter-offensive movement arrived. As high-profile, disastrous backlashes at companies like Anheuser-Busch, Disney, Target and other companies reveal, companies who cave to the demands of left-wing social justice activists are being punished like never before. Customers are fighting back and taking their money elsewhere. In Go Woke, Go Broke, New York Times bestselling author and veteran financial journalist Charles Gasparino calls out the nonsense and takes readers inside the radicalization of corporate America, based on numerous insider interviews and exclusive reporting. The story is wilder than you can imagine. Gasparino introduces readers to America’s most woke corporate leaders, tracing the origins of ESG and "stakeholder investing.” He takes readers along on for a rollicking ride through corporate America as he shines a light, unlike anyone else, on Fortune 500 companies that have suffered for caving to the silly and irresponsible demands of social justice activists and left-wing interests. A respected financial reporter who has covered finance for more than 30 years, Gasparino is deeply sourced and has dug into countless episodes involving Wall Street greed, corporate hubris, and government overreach in enterprise. This explosive, untold story and in-depth examination of the seminal players, institutions, and forces of the markets shows that, for the sake of global stability, we must immediately pry the clenched fists of radical activists off the levers of the economy.
The bestselling author of The Sellout tells the explosive story of the government’s crackdown on insider-trading networks—an investigation that has already racked up more than 60 convictions. In Circle of Friends, award-winning journalist Charles Gasparino—one of Wall Street's most knowledgeable observers—follows government investigators and prosecutors as they pursue one of the most aggressive and broad-reaching series of insider-trading cases in the nation's history. A richly textured page-turner of investigative journalism based on extensive reporting, Circle of Friends chronicles the massive federal crackdown that has already put some of the biggest names on Wall Street behind bars, including Raj Rajaratnam, founder of the Galleon Group, and Rajat Gupta, a former CEO of consulting giant McKinsey & Co. Other similarly sized targets are still waiting nervously, including the biggest one of them all—financial impresario Steve Cohen of SAC Capital, the giant hedge fund that has confounded regulators for years by cranking out a steady stream of market-busting returns. Gasparino goes behind the headlines to reveal how the government makes its case, using every tool at its disposal—and at great expense to taxpayers—to supposedly make the investing world safer for average Americans. Gasparino asks why federal officials are so eager to prosecute these cases: What is the real damage to individuals? Do average investors really care? He explores why insider trading is all the rage these days when the U.S. government has failed to bring a single criminal case against the culprits who caused the 2008 financial crisis. Circle of Friends is not a defense of insider trading, but it does offer an account of the politics of Wall Street crime fighting, revealing the behind-the-scenes ambitions that motivate headlines and burnish political careers. A riveting work of narrative nonfiction, as engrossing and explosive as fictional thrillers of the finest magnitude, Circle of Friends is a wakeup call to the investing public.
Blood on the Street is a riveting account of the Wall Street scam in which ordinary investors lost literally billions of dollars -- in many cases their life savings -- in one of the greatest deceptions ever, by the crack reporter who broke the original story. In one of the most outrageous examples of dirty dealing in the history of Wall Street, hundreds of millions of dollars in illicit profits were made during the booming 1990s as a result of research analysts issuing positive stock ratings on companies that kicked back investment banking business. Now, for the first time, award-winning journalist Charles Gasparino reveals the whole fascinating story of greed, arrogance, and corruption. It was Gasparino's front-page reporting in The Wall Street Journal that brought the story to national attention and spurred New York State attorney general Eliot Spitzer to launch an official probe. Now, Gasparino goes behind his own headlines to tell the inside story of this spectacular swindle -- with revelations from his unprecedented access to never-before-published depositions and documents, including e-mail exchanges leading all the way up to Citigroup CEO Sanford Weill. Drawing on his research and interviews with industry insiders, Gasparino takes readers into the back rooms of Wall Street's top investment firms and captures the outsize personalities of three key players: Salomon Smith Barney's Jack Grubman, a braggart with one of the largest salaries on Wall Street; Merrill Lynch's Henry Blodget, the Yale graduate who hyped his way to the top of the research pyramid; and Morgan Stanley's Mary Meeker, the "Queen of the Internet," who foresaw the market catastrophe but gave in to the pressures Blood on the Street shows how regulators, like former SEC chairman Arthur Levitt, allowed the deceptive practices to fester and grow during the 1990s bubble, leaving the door open for a then- little-known attorney general from New York State to step in and make his mark by holding Wall Street accountable. Gasparino provides the first major account of Spitzer's rise to prominence, detailing how the attorney general pursued key players to build his case against Wall Street, including his shifting allegiance to the powerful New York Stock Exchange chairman Richard Grasso. A fast-paced narrative rich in sharp insights, Blood on the Street is the definitive book on the financial debacle that affected millions of Americans.
A top reporter exposes the deep ties between the Obama administration and the big banks that are bankrupting our country. As the recession continues, President Obama has chastised the "fat cats" who feast off government bailout money while unemployment remains high and smaller businesses struggle. But according to Gasparino, Obama is faking his outrage, and his calls for new policies to rein in banks that are "too big to fail" are just pabulum. In reality, Obama has climbed into bed with Wall Street CEOs, giving them what they want so they will support his liberal, big- government agenda. As a result, the big banks responsible for the credit crisis get rescued, while small businesses and ordinary Americans get crushed by higher taxes and irresponsible spending. Gasparino draws on interviews with dozens of key CEOs and political players to trace the roots of Wall Street's twisted love affair with one of the most liberal presidents in American history. He shows how, for decades, big banks and big business have colluded with big government, thereby laying the groundwork for today's shady dealings, and how the same bankers Obama now publically reprimands have supported him-not because he promises change, but because he promises business. Written in Gasparino's characteristic smart yet no-nonsense style, this book is both an exposé and a wake-up call to all Americans to strike back against the people and policies who are ruining our country.
In this updated edition of his classic account, Charles Nauert charts the rise of humanism as the distinctive culture of the social, political and intellectual elites in Renaissance Europe. He traces humanism's emergence in the unique social and cultural conditions of fourteenth-century Italy and its gradual diffusion throughout the rest of Europe. He shows how, despite its elitist origins, humanism became a major force in the popular culture and fine arts of the fifteenth and sixteenth centuries, and the powerful impact it had on both the Protestant and Catholic Reformations. He uses art and biographical sketches of key figures to illuminate the narrative and concludes with an account of the limitations of humanism at the end of the Renaissance. The revised edition includes a section dealing with the place of women in humanistic culture and an updated bibliography. It will be essential reading for all students of Renaissance Europe.
This study of the foremost patristic scholar in 15th-century Florence is based almost exclusively on manuscript letters and incunabula in Greek, Latin, and Italian. The influence of the revival of patristic studies on the meaning and purpose of Renaissance learning emerges as one of the original considerations in this book which should be of interest to humanists, generally, but also to art historians, intellectual history researchers, theologians, and philosophers.
The essays collected in this volume represent many years of Professor Nauert's research and teaching on the history of Renaissance humanism, and more particularly on humanism north of the Alps. Much of the early work involved the significant but often-overlooked history of humanism at the University of Cologne, notoriously the most anti-humanist of the German universities. Later essays deal with the most famous humanist of the early sixteenth century, Erasmus of Rotterdam, and natural philosophy, a broad term covering many subjects now associated with natural science, is the topic of three of the pieces published here. Taken as a whole, the book presents a detailed study of intellectual development among European elites.
This new textbook provides students with a highly readable synthesis of the major determining features of the European Renaissance, one of the most influential cultural revolutions in history. Professor Nauert's approach is broader than the traditional focus on Italy, and tackles the themes in the wider European context. He traces the origins of the humanist 'movement' and connects it to the social and political environments in which it developed. In a tour-de-force of lucid exposition over six wide-ranging chapters, Nauert charts the key intellectual, social, educational and philosophical concerns of this humanist revolution, using art and biographical sketches of key figures to illuminate the discussion. The study also traces subsequent transformations of humanism and its solvent effect on intellectual developments in the late Renaissance.
Charles Trinkaus can be counted among the eminent intellectual and cultural historians of the Renaissance. This new collection of his articles brings together pieces published since 1982. The studies are concerned with Italian Renaissance humanists and philosophers who tended to affirm human capacities to shape earthly existence, despite the traditional limitations proposed by some scholastics and astrologers. Professor Trinkaus holds that, without abandoning their Christian faith, or their acceptance of physical influences from the cosmos, these writers, in their stress on human capacities, were responding to the vigorous activism of their contemporaries in all aspects of their existence. The final four papers also provide a series of reflections on the modern historiography of the Renaissance.
Few periods have given civilization such a strong impulse as the Renaissance, which started in Italy and then spread to the rest of Europe. During its brief epoch, most vigorously from the fourteen to the sixteenth centuries, Europe reached back to Ancient Greece and Rome, and pushed ahead in numerous fields: art, architecture, literature, philosophy, banking, commerce, religion, politics, and warfare. This era is inundated with famous names (Da Vinci, Michelangelo, Raphael, Petrarch, Machiavelli, Cervantes, and Shakespeare), and the heritage it left can hardly be overestimated. The A to Z of the Renaissance provides information on these fields through its chronology, which traces events from 1250 to 1648, and its introduction delineating the underlying features of the period. However, it is the dictionary section, with hundreds of cross-referenced entries on famous persons (from Adrian to Zwingli), key locations, supporting political and social institutions, wars, religious reformations, achievements, and failures, which is the heart of this book. Further research is facilitated by the bibliography.
This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of an inherent instability in the international system.
A New York Times bestselling author and veteran Fox Business financial journalist’s explosive deep-dive into the progressive madness that has infected and corrupted the world’s biggest corporations, threatening the stability of the global economy—and life as we know it. How did a bunch of rich dudes who run corporate America become the tools of left-wing radicals? Intimidated by activists on the left, virtually every major corporation in America has embraced woke politics. For years, these businesses could get away with progressive virtual signaling without worrying about alienating customers. Then the anti-woke counter-offensive movement arrived. As high-profile, disastrous backlashes at companies like Anheuser-Busch, Disney, Target and other companies reveal, companies who cave to the demands of left-wing social justice activists are being punished like never before. Customers are fighting back and taking their money elsewhere. In Go Woke, Go Broke, New York Times bestselling author and veteran financial journalist Charles Gasparino calls out the nonsense and takes readers inside the radicalization of corporate America, based on numerous insider interviews and exclusive reporting. The story is wilder than you can imagine. Gasparino introduces readers to America’s most woke corporate leaders, tracing the origins of ESG and "stakeholder investing.” He takes readers along on for a rollicking ride through corporate America as he shines a light, unlike anyone else, on Fortune 500 companies that have suffered for caving to the silly and irresponsible demands of social justice activists and left-wing interests. A respected financial reporter who has covered finance for more than 30 years, Gasparino is deeply sourced and has dug into countless episodes involving Wall Street greed, corporate hubris, and government overreach in enterprise. This explosive, untold story and in-depth examination of the seminal players, institutions, and forces of the markets shows that, for the sake of global stability, we must immediately pry the clenched fists of radical activists off the levers of the economy.
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