How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff
An expose on the delusion, greed, and arrogance that led toAmerica's credit crisis
The collapse of America's credit markets in 2008 is quitepossibly the biggest financial disaster in U.S. history. ConfidenceGame: How a Hedge Fund Manager Called Wall Street's Bluff is thestory of Bill Ackman's six-year campaign to warn that the $2.5trillion bond insurance business was a catastrophe waiting tohappen. Branded a fraud by the Wall Street Journal andNew York Times, and investigated by Eliot Spitzer and theSecurities and Exchange Commission, Ackman later made his investorsmore than $1 billion when bond insurers kicked off the collapse ofthe credit markets.
* Unravels the story of the credit crisis through an engaging andhuman drama
* Draws on unprecedented access to one of Wall Street'sbest-known investors
* Shows how excessive leverage, dangerous financial models, and ablind reliance on triple-A credit ratings sent Wall Streetcareening toward disaster
Confidence Game is a real world "Emperor's New Clothes," a taleof widespread delusion, and one dissenting voice in the era leadingup to the worst financial disaster since the Great Depression.