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The secret history of the South Sea Bubble : the world's first great financial scandal

Author: Malcolm Balen
Publisher: London ; New York : Fourth Estate, ©2003.
Edition/Format:   Book : English : 1st edView all editions and formats
Database:WorldCat
Summary:
"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. The fraud entangled royalty, politicians, professional classes, gamblers and con-men. Its effects were so widespread, finally, that it became easier to cover it up  Read more...
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Genre/Form: History
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Malcolm Balen
ISBN: 0007161778 9780007161775
OCLC Number: 52213700
Notes: Originally published under title: A very English deceit. 2002.
Description: x, 246 p. : ill. ; 24 cm.
Contents: I The Dome 1 --
II A National Lottery, and a Rake's Progress 12 --
III Blunt Advice 22 --
IV Walpole and the Maypole 37 --
V Who Wants to Be a Millionaire? 45 --
VI The New Economy 68 --
VII Greed Is Good 84 --
VIII Paper Fortunes 100 --
IX Bonfire of the Vanities 117 --
X Time and Tide and a Fall from Grace 130 --
XI Not a Penny Stirring 141 --
XII A Lasting Foundation 159 --
XIII In the Darkness of the Night 172 --
XIV Hall of Mirrors 187 --
XV Friends in High Places 199 --
XVI Doubtful and Desperate Debts 214 --
XVII The Architecture of Eternity 228.
Other Titles: Very English deceit
Responsibility: Malcolm Balen.
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Abstract:

The paperback of the critically-acclaimed popular history book: The story of the South Sea Bubble which in Balen's hands becomes a morality tale for our times. A classic collision of political  Read more...

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'As successive corporate accounting scandals surface in America, and global share prices again tumble, Balen reminds us that the murky tale of the first Bubble still stands as a cautionary tale for Read more...

 
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schema:reviewBody""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. The fraud entangled royalty, politicians, professional classes, gamblers and con-men. Its effects were so widespread, finally, that it became easier to cover it up than publicly to point the finger of blame. A few years later, the only sign that it had happened at all was a phrase that entered the language to describe unsound financial speculation, a "bubble"." "The South Sea Bubble was a share scheme allowed to run crazily out of control. 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 own a boat." "For the first time Malcolm Balen tells the dramatic full story of how the fraud was carried out and covered up. The pipe dream of wealth in the Americas and Mississippi is the mother of all share scandals that follow. Every time a company falsifies its accounts, misstates its business strategy, attempts to corrupt public officials, and, above all else, lies about its level of indebtedness, it is following the story of the South Sea Company."--BOOK JACKET."
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