By Edward J. Balleisen
The usa has continuously proved an inviting domestic for boosters, sharp purchasers, and outright swindlers. Worship of entrepreneurial freedom has advanced the duty of distinguishing competitive salesmanship from unacceptable deceit, specifically at the frontiers of innovation. while, aggressive pressures have usually nudged good agencies to include deception. for this reason, fraud has been a key characteristic of yankee company on account that its beginnings. during this sweeping narrative, Edward Balleisen lines the heritage of fraud in America—and the evolving efforts to wrestle it—from the age of P. T. Barnum during the eras of Charles Ponzi and Bernie Madoff.
Starting with an early nineteenth-century American felony global of "buyer beware," this exceptional account describes the sluggish, piecemeal building of contemporary regulatory associations to guard shoppers and traders, from the Gilded Age in the course of the New Deal and the good Society. It concludes with the newer period of deregulation, which has introduced with it a spate of pricy frauds, together with the mark downs and personal loan concern, company accounting scandals, and the new mortgage-marketing debacle.
By tracing how american citizens have struggled to foster a colourful financial system with no permitting a corrosive point of fraud, this ebook reminds us that American capitalism rests on an uneasy origin of social trust.
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Additional info for Fraud: An American History from Barnum to Madoff
Fraud: An American History from Barnum to Madoff by Edward J. Balleisen