The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System
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The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System

3.2 45
by Charles Gasparino
     
 

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In the spirit of Barbarians at the Gate and Liar's Poker comes The Sellout, the definitive book on the recent collapse of Wall Street, one of the most dramatic and anxiety-ridden era in national socioeconomic history. In this powerful business narrative, Charles Gasparino, the author of Blood on the Floor and King of the Club,

Overview

In the spirit of Barbarians at the Gate and Liar's Poker comes The Sellout, the definitive book on the recent collapse of Wall Street, one of the most dramatic and anxiety-ridden era in national socioeconomic history. In this powerful business narrative, Charles Gasparino, the author of Blood on the Floor and King of the Club, captures how avarice, arrogance, and sheer stupidity eroded Wall Street's dominance, made many of our country's most fabled financial institutions vulnerable to significant new foreign control, and profoundly weakened the financial security of millions of poor and middle-class American families.

Editorial Reviews

Mark Whitaker
“Gasparino has consistently broken news on some of the biggest financial scandals of recent years, including the fall of Martha Stewart, Henry Blodget, and Jack Grubman. As anyone who reads the business pages knows, Charlie is one of the best reporters in the field.”
Wall Street Journal
“Gasparino describes, in page-turning detail, a Wall Street world of ruthless financial titans.… No collection of courtroom documents will ever tell the story…as well as Mr. Gasparino does.”
New York Post
“Gasparino is credited with breaking some of the more titillating tales of Wall Street misconduct.”
San Antonio Express-News
“Charles Gasparino sees the guts of Wall Street and the wreckage it leaves behind, day in and day out.”
New York Review of Books
The most comprehensive anecdotal account to date of the crisis.... Gasparino cuts his way through Wall Street rhetoric and in the process uncovers in considerable detail how blind profit-making ambition led to the destruction of the markets.
PR Week
“Born in the Bronx to a construction worker and a housewife, Gasparino has risen from his working-class roots to become one of the most influential business reporters at work today.”
Vanity Fair
“An especially aggressive reporter.”
Financial Times
“A tough outsider willing to go to battle with anyone--colleague or contact-in pursuit of the story.”

Product Details

ISBN-13:
9780061697166
Publisher:
HarperCollins Publishers
Publication date:
11/03/2009
Pages:
553
Sales rank:
1,062,210
Product dimensions:
5.60(w) x 9.20(h) x 1.40(d)

What People are saying about this

Mark Whitaker
“Gasparino has consistently broken news on some of the biggest financial scandals of recent years, including the fall of Martha Stewart, Henry Blodget, and Jack Grubman. As anyone who reads the business pages knows, Charlie is one of the best reporters in the field.”

Meet the Author

Charles Gasparino is a senior correspondent for the Fox Business Network and the Fox News Channel, where he reports on major developments in the world of finance and politics. A former writer for the Wall Street Journal and Newsweek, he has also served as a columnist for the New York Post and The Huffington Post as well as a contributor to The Daily Beast, New York Magazine, and Forbes. Gasparino is a recipient of numerous business journalism awards, including the prestigious Investigative Reporters and Editors Award for The Sellout. His other noteworthy books include Blood on the Street and King of the Club.

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The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System 3.3 out of 5 based on 0 ratings. 44 reviews.
JSMNH More than 1 year ago
This is the true story of how greed and leverage in the hands of unchecked CEO's and "hands off" and oblivious boards of directors wrecked the Wall Street Firms. Every member of Congress should read this and recognize the need to re-regulate capital requirements and leverage. Until they do, the public is not safe, our country is not safe, and our money is not safe. The book is worth having, if for no other reason, that for keeping next to my bed, so I can re-read how Stan O'Neal was fired over and over again whenever I want to. Now, that's a good bedtime story.
MikeMcHenry More than 1 year ago
The Sellout was interesting and insightful as a review of the recent events of our economic travails. Having lived through them in a very real sense over the last two years, it was useful to have them catalogued in a neat and orderly fashion. Gasparino's writing is fine, not stellar, but also not boring. Approx. 1/4 of the book was focused on the events leading up to the crisis, and 3/4 of the book discussed the crisis itself. My low marks are due to the book not being what I expected. I wanted a better understanding of the history of what got us to this point. The discussion of the historical events were a thumbnail sketch of why this occurred. The majority of the book focused on Merril, Bear, MS, and the others. Gasparino has world class contacts and access to the inner circles of these organizations and therefore I should have expected most of the book would be focused on his area of expertise. He's an extremely bright guy; I just feel the writing could have been elevated somewhat, and the discussion of historical events could have been provided in greater detail.
PmcD More than 1 year ago
Sellout explains that the causes of the current problem with the financial industry was decades in the making. Gasparino does not flinch in laying responsibility for the problem on those he believes were negligent, incompetent or greedy.
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Mike-from-Texas More than 1 year ago
The book provides a narrative of some of the inner-workings of wall street. It explains the evolution of the business and the events leading to the latest financial crisis including the role of the federal government. A lot of "inside baseball" as to the personalities, competition and risk-taking of the players. I would recommend the book to anyone who is interested in gaining a better understanding as to the cause of the crisis as well as the "boom and bust" cycle in general.
Orangenblack More than 1 year ago
This book should be categorized under the "history" section, vice business. The book highlights, in layman terms and understanding, the evoltion of a financial debacle; from the late seventies to the current near melt-down. Well done Charlie!
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This is a great book! Gasparino really hits the mark and tells the extremely scary truth behind the banking/mortgage crisis. I am a broker of a small company and the book confirmed all my beliefs. Everyone of my partners wants to read the book since I go to work every day and tell them more of what Gasparino has to say. It will be passed along to every one of them.
Anonymous More than 1 year ago
The book was enjoyable to read and helped me to clarify a number of things in my mind. In general, it helps the reader better understand why the recent financial panic occurred and how a number of major financial companies and key personalities were involved. I had followed the financial news somewhat during the panic but more closely at some times than others, depending on my work and family schedule. It can be difficult to put everything together into a "big picture" from on again / off again watching / reading of daily news. This book helped to fill in some knowledge "holes" in my mind and develop a more complete picture of what happened and where we are now. It also reached back far enough in time (but not too far back) to "set the stage" well for putting more recent events into perspective.
Anonymous More than 1 year ago
While I may not understand the technicalities of all the financial instruments it still got the message across as stated in the title. I think it should have been tougher on the Federal Govt agencies and politicians based on what I have read in the press.
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