Peter D. Goldmann, 2010, $39.95, 272 pp.

John Wiley & Sons

111 River Street

Hoboken, N.J. 07030-5774

Fraud and corruption have always been components of American culture. However, as statistics and the personal experiences of many Americans confirm, fraud, corruption, and ethical misconduct was not as prevalent in the 1970s and early 1980s as it is now. From the fraud-driven destruction of a $100 billion company like Enron and the theft of $65 billion through a one-man Ponzi scheme, to the demise of a Wall Street icon like Bear Stearns at the hands of two rogue hedge fund managers, these earth-shattering incidents were practically unheard of until the late 1980s.

Goldmann provides a dramatic look at frauds role in the financial markets, and how readers can protect themselves. The book looks back at the late 1970s and early 1980s as the early stages of what would become the perfect storm of the 2000s. It was the period of unmitigated financial abuse by a contingent of moral misfits who abused deregulation of the S&L industry to steal $150 billion of depositor and investor funds. A period of corporate raiding, dismantling, dissolving, and divesting. Not illegal or particularly unethical, but fuel for the demise of Wall Street decorum and the ascent of personal avarice that some would say culminated in the financial crisis of 2007-2008.

Written from an insiders perspective, this new book reveals the critical role fraud played in the global financial crisis. Shedding light on the reckless conduct of the former senior executives at major Wall Street firms such as Lehman Brothers, Bear Stearns, Merrill Lynch and others just before their collapse. This book shows how the culture of anything goes on Wall Street fueled the innovation of exotic but deadly asset-backed securities. Looking back at the most dramatic economic and business headlines in recent memory, readers will find revealing discussion of:

• The fraudulent lending practices that engulfed the U.S. mortgage industry
• The deceptive marketing of asset-backed securities
• The fraud culture and the untold secrets of flagrant lawlessness in the executive suites of major financial institutions
• Reform, re-regulation, and the persistence of fraud
• The real estate bubble and bust
• The markings of a melt down
• A road map to prevent similar disasters from recurring