Financial Fraud Handbook: How to Lose $100 Million

Step One: Don't ask questions. Step Two: Wire $100 million to outside bank account. Step Three: Repeat as necessary. Sixty Minutes ran a terrific segment about Marc Dreier yesterday. He masterminded a Ponzi Scheme that totaled $400 million and...

The Giving Pledge: What Do We Want From the Wealthy?

I’ve been thinking about the “Giving Pledge,” a campaign championed by Bill Gates and Warren Buffett. They're asking fellow members of the uber rich to pledge 50+ percent of their fortunes to charities—more money to philanthropy and less to...

Remember When $426 Million Was Real Money?

I'm here editing The Gods of Greenwich and thinking about 2008, which is the year my story takes place. So in the current theme of light summer reading on Acrimoney, here is a snippet from Chapter Thirty-Five. The paragraph is based on something that really...

Beach Reading without Congressional Oversight

There's plenty to discuss from the headlines these days. But this summer I've been buried with edits to my next novel, The Gods of Greenwich. And I'm staring at a few deadlines now. With this post, however, I'd like to take you back to the summer...

Darth Goldman: The Enterprise Value Strikes Back

Yesterday, Goldman Sachs settled fraud charges associated with Abacus CDOs for $550 million. Not surprisingly, the settlement excluded Fabrice P. Tourre, who will no doubt be hung out to dry as the Tourre de Toxic winds to a close. Personally, I think the government...

Tweet Andy Warhol’s 15 Minutes

I just returned from Thrillerfest. It's a convention held every year in NYC for published authors and aspiring novelists. My head wasn't in the markets over the weekend, so I hope you will forgive this temporary digression. Andy Warhol is on my mind,...