The King, the Crook, and the Gambler
The True Story of the South Sea Bubble and the Greatest Financial Scandal in History
On Sale: 06/01/2004
The King, the Crook, and the Gambler
The True Story of the South Sea Bubble and the Greatest Financial Scandal in History
On Sale: 06/01/2004
Format:
About the Book
“Balen reminds us that the murky tale of the first bubble stands as a cautionary tale for our time.” —Lisa Jardine, London Times
The greatest financial scandal in history was not the collapse of Enron or WorldCom, not a piece of insider trading from the 1980s, not a hedge fund leveraged to a trillion dollars or a crooked offshore account. It was bigger than all of them combined. So vast, in fact, that it threatened to bankrupt
an entire nation’s wealth, transforming old monied families with centuries of affluence into the newly destitute.
The South Sea Bubble was a share scheme allowed to run crazily out of control. Modeled on the share trading that had just transformed the rival French economy, it was masterminded by an unscrupulous Englishman who saw a route to untold riches selling shares in a valueless company. The South Sea Company was supposed to establish a lucrative trade in silver and spices between England and the Americas. But there was a problem hidden from investors: for almost the entire duration of its sorry history the Company didn’t even own a boat.
For the first time Malcom Balen tells the dramatic full story of how the fraud was carried out and covered up. Although set in the mazy back alleys of the newly inaugurated financial districts of London and Paris of the 1720s it remains utterly a tale of our times.
Critical Praise
“A great ripping yarn.” — Chicago Tribune
“Brilliant.” — John Snow
“Balen displays both understanding and incredulity in his account of the infamous 18th century trading scandal…a remarkable story.” — Kirkus Reviews
“Balen reminds us that the murky tale of the first bubble stands as a cautionary tale for our time.” — Lisa Jardine, London Times
“Bristles with contemporary resonance...Balen has a felicitous turn of phrase and the pace never flags.” — Financial Times
-Product Details
- ISBN: 9780007161782
- ISBN 10: 0007161786
- Imprint: Harper Perennial
- On Sale: 06/01/2004
- Pages: 256
- List Price:18.50 CAD
- BISAC1 : BUSINESS & ECONOMICS / General
- BISAC2 : HISTORY / Europe / Great Britain
