<p/><br></br><p><b> Book Synopsis </b></p></br></br><b>An expose on the delusion, greed, and arrogance that led to America's credit crisis</b> <p>The collapse of America's credit markets in 2008 is quite possibly the biggest financial disaster in U.S. history. Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff is the story of Bill Ackman's six-year campaign to warn that the $2.5 trillion bond insurance business was a catastrophe waiting to happen. Branded a fraud by the <i>Wall Street Journal</i> and <i>New York Times</i>, and investigated by Eliot Spitzer and the Securities and Exchange Commission, Ackman later made his investors more than $1 billion when bond insurers kicked off the collapse of the credit markets.</p> <ul> <li>Unravels the story of the credit crisis through an engaging and human drama</li> <li>Draws on unprecedented access to one of Wall Street's best-known investors</li> <li>Shows how excessive leverage, dangerous financial models, and a blind reliance on triple-A credit ratings sent Wall Street careening toward disaster</li> </ul> <p>Confidence Game is a real world Emperor's New Clothes, a tale of widespread delusion, and one dissenting voice in the era leading up to the worst financial disaster since the Great Depression.</p><p/><br></br><p><b> From the Back Cover </b></p></br></br><p>Confidence Game--the inside story of how an investor made more than $1 billion betting against the flaws that toppled the financial system--is a window into all that went wrong on Wall Street.</p> <p>Praise for Confidence Game</p> <p>"Christine Richard's Confidence Game is an insightful, timely, and fascinatinghigh-speed drive into the often difficult-to-penetrate world of short sellers."--Scott B. MacDonald, Senior Managing Director, Aladdin Capital LLC, and coauthor of Separating Fools from Their Money</p> <p>"How to head off the next crash? Listen to the dissidents now. Christine Richard'sdeeply researched and deftly written account of Bill Ackman's high-stakes struggle with a leading pillar of a now-collapsed system is the right book at the right time, and a mesmerizing read."--Dean Starkman, business section editor, Columbia Journalism Review</p> <p>"Bill Ackman's battle with MBIA will be remembered as one of the great epics ofWall Street history, and no one followed the story more closely than Christine Richard."--Bethany McLean, coauthor of The Smartest Guys in the Room</p> <p>"Finally, a financial crisis book with a hero. It's a compelling morality tale of howone man uncovered a massive fraud and then fought tenaciously to show the world he was right. Richard weaves the threads of complex financial shenanigans into a page-turning narrative. Ackman emerges as the Don Quixote of financial markets: you will root for him and a happy ending."--Frank Partnoy, author of F.I.A.S.C.O., Infectious Greed, and The Match King</p> <p>"Confidence Game is a lesson for all investors on the value of independent and exhaustive research. It's also a riveting story." --Todd Sullivan, creator of valueplays.net and a regular contributor to theStocktwits blog network and Seeking Alpha</p><p/><br></br><p><b> About the Author </b></p></br></br><b>Christine S. Richard</b> is a reporter with Bloomberg News. She has covered financial markets from Washington, Hong Kong, Singapore, and New York. Her work has been recognized by organizations including the New York Society of Certified Public Accountants, the National Association of Real Estate Editors, the New York Press Club, and the Newswomen's Club of New York.
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