[BOOKS] ⚡ Ponzi: The Incredible True Story of the King of Financial Cons (Library of Larceny) ✯ Donald Dunn – Furosemidelasix.info

Ponzi: The Incredible True Story of the King of Financial Cons (Library of Larceny) KINDLE Ponzi The Incredible True Story Of The King Of Financial Cons Library Of Larceny Donald Dunn Ivogue.co.uk Just Who Was The Man Whose Name Has Become Synonymous With The Classic Rob Peter To Pay Paul Scam In Which Money From New Investors Is Used To Reward Earlier Ones In December 1919, He Was An Unknown Thirty Eight Year Old, Self Educated Italian Immigrant With A Borrowed Two Hundred Dollars In His Pocket Six Months Later, He Was Boston S Famed Wizard Of Finance , Lionized By The Public And Politicians Alike Based On Exclusive Interviews With People Who Knew Charles Ponzi, Lent Him Their Money, And Exposed Him, Donald Dunn S Ponzi Recreates Both One Of America S Most Notorious And Colorful Financial Con Artists And The Mad Money Hungry Era In Which He Thrived. I rather liked this book but it is written in an novelistic style which is a little irritating Ever hear of a Ponzi scheme Remember that being applied to Enron a few years ago Ever wonder how that phrase became so popular and how the original Ponzi scheme worked Here it is The entire operation took 6 months from first investments to shutdown, which totally amazed me I had the impression that the scheme lasted several years at least Ponzi was an Italian immigrant who wanted to make it rich in America He worked a couple of traditional, legal jobs and decided that wasn t going to do it A partner and he decided to take over a bank in Canada, but Ponzi got caught for forgery and spent time in jail His next get rich quick was to smuggle Italian immigrants across the border into the United States No go caught again.Eventually he came upon the scheme that made him infamous It involved internation reply stamps Immigrants in the US could afford to mail letters to their families, but often the families couldn t afford the stamps to mail letters back An international organization created the reply stamp idea where people could buy a certificate for a certain amount in their country, send it to their home country and the receiver could use that to buy stamps How many stamps, of course, depended on the exchange rate A little like currency trading today But he wasn t doing any actual trading..just bringing in investments as IF he were And he offered 50% interest in 45 days.It worked for a while He was such a slick con man that he convinced several local and federal investigators tha hard to say how I feel about this one not the best written thing ever produced but the writing style was interesting the writer really takes you by the hand explaining the Ponzi scheme and helps lead the reader down the path of the con as it unfolds the problem with this is that he takes your hand with everything, turning a mundane day to day situation like walking into an office into a half page paragraph that is intended to set up a compelling situation but only succeds in telling us what is going to happen then telling us again what happens in a dialogue section I know that doesn

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