The match king: Ivar Kreuger, the financial genius behind a century of Wall Street scandals

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Publisher:
PublicAffairs,
Pub. Date:
c2009.
Language:
English
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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ISBN:
9781586487430
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Grouped Work ID ef592189-4898-113f-23cc-4f2bf96d8a85
full_title match king ivar kreuger the financial genius behind a century of wall street scandals
author partnoy frank
grouping_category book
lastUpdate 2017-12-05 04:59:25AM

Solr Details

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author Partnoy, Frank.
author_display Partnoy, Frank
collection_arlington Adult Nonfiction
detailed_location_arlington Shirlington Adult Nonfiction
display_description Frank Partnoy delivers a thrilling history lesson about an era and a nearly century-old Wall Street scandal rooted in unscrupulous investment banking and derivative hedge funds techniques developed by one man--Ivar Kreuger. Kreuger made his fortune in the 1920s by raising money from American investors to lend to European governments in exchange for match monopolies. Then he suddenly committed suicide in 1932. As his fraudulent schemes unraveled in the wake of his death, the so-called "Kreuger crash" began, bankrupting millions and leading to the enactment of the securities laws of 1933 and 1934.
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literary_form_full Non Fiction
local_callnumber_arlington 364.168 PARTN
owning_library_arlington Arlington Public Library, Aurora Hills, Central, Cherrydale, Columbia Pike, Connection Crystal City, Detention Center, Glencarlyn, Local History, Plaza, Shirlington, Westover
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primary_isbn 9781586487430
publishDate 2009
record_details ils:.b12951158|Book|Books|1st ed.|English|PublicAffairs,|c2009.|xiii, 272 p. ; 25 cm.
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subject_facet Businesspeople -- Sweden -- Biography, Capitalists and financiers -- Sweden -- Biography, Commercial criminals -- Sweden -- Biography, International finance -- Corrupt practices -- History, Match industry -- Sweden -- History, Swindlers and swindling -- Sweden -- Biography
title_display The match king : Ivar Kreuger, the financial genius behind a century of Wall Street scandals
title_full The match king : Ivar Kreuger, the financial genius behind a century of Wall Street scandals / Frank Partnoy
title_short The match king :
title_sub Ivar Kreuger, the financial genius behind a century of Wall Street scandals