Phoebe recognizes fire in Jake Pierce’s belly from the moment they meet as teenagers. After they marry and he creates a financial dynasty, she trusts him without hesitation—unaware his hunger for success hides a dark talent for deception.
But when Phoebe learns her husband’s triumph and vast reach rests on an elaborate Ponzi scheme, her world unravels. While Jake is trapped in the web of his deceit, Phoebe is caught facing an unbearable choice. Her children refuse to see her if she remains at their father’s side, but abandoning him feels cruel and impossible.
From penthouse to prison, with tragic consequences rippling well beyond Wall Street, Randy Susan Meyers’s latest novel exposes a woman struggling to survive and then redefine her life as her world crumbles. “An engrossing emotional journey” (Kirkus Reviews) and USA TODAY bestselling author Diane Chamberlain raves, “With all the suspense of a thriller, The Widow of Wall Street quickly pulled me into the story and didn’t let me go until the last page.”
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The Widow of Wall Street
Phoebe never hated her husband more than when she visited him in prison. The preceding nightmare of ordeals—eleven hours hauling a suitcase by bus, train, and cab, her muscles screaming from the weight—were the coming attractions of the misery she faced the next day.
She arrived at the grimy hotel close to midnight. Without sleep, exhaustion would lengthen every minute tomorrow. After wrestling her luggage to the bed, Phoebe thumbed through a small stack of folded sweaters, hoping they would withstand the raw weather. So many never-envisioned experiences: riding a dingy Greyhound bus; drowning ramen noodles in a hotel coffee maker; choosing clothes to wear to Ray Brook Federal Correctional Institution—and then envisioning her choice through her husband’s eyes.
Each month, Jake became more of an albatross, and yet, even now, through tooth-grinding anger, Phoebe found herself still seeking his approving smile and the satisfaction of soothing his melancholy.
Phoebe worried how long she could, would, continue making the long trip to this prison in upstate New York. One hour farther and she’d be in Canada. To stop visiting required strength she hadn’t yet found—loving and worrying about Jake had been her default for too long—so she agonized about everything from prison conversation to the choice between wearing a cardigan or crewneck sweater.
“Why won’t you stay longer?” She dreaded hearing those words Jake repeated every visit. “Other wives come Saturday and Sunday, not for a measly few hours.”
She’d stare just as she had before. Silent, hoping her eyes might express the command she couldn’t speak: Screw yourself, Jake. Her husband, once a titan—a god—now whined like a child.
What she said: “A few hours is plenty.”
What she didn’t say: Two days would kill me.
What he said: “Getting out after three hours must be nice.”
What he probably meant: I hate you for being free.
What she said: “Staying here must be hard.”
What she didn’t say: Leaving is deliverance from you.
Then she’d change the topic—a difficult task with a world of off-limit issues: The kids. Jake’s guilt. Her lack of money. Her not knowing this man; this fraud of a husband who steamrolled over her desperation to unravel the tangled skein of their past.
She held up first a soft white turtleneck, and then a subdued blue cardigan, and finally a camel-colored blazer. Jake liked her to dress sharp. Even in prison he demanded that she reflect well on him. How ironic. Yet, after building her life on pleasing Jake—even after him swindling her and everyone else in his life—she couldn’t shake the habit of following his orders.
Phoebe also needed to please her other husband, the new authority in her life—the Federal Bureau of Prisons—and adhering to the prison’s rules for visitors meant dressing to its standards.
“Visitors are held to a dress code before being admitted into the institution.”
Stark divisions outlined her life. Before, she would wander through the highest-end stores clutching fabric from an old Caribbean-blue dress, a shade that brightened her eyes, to match that color in a sweater. After . . .
“Visitors wearing transparent clothing, dresses, blouses or other apparel of a suggestive or revealing nature, halter tops, short shorts, miniskirts, culottes, or excessively tight fitting clothing will not be admitted into the institution.”
Too tired to concentrate, she placed her wardrobe choices on the extra twin bed. In the morning, when she knew the temperature, she could make her decision. And November temperatures in the Adirondack Mountains often fell below freezing.
After brushing her teeth and covering her face with motel lotion, she carried her laptop to bed. Her closest relationships were with her sister and her Mac; lately she had started Googling “average life of Apple laptops.” Imagining life without her electronic connection petrified Phoebe. Thoughts of spending almost two thousand dollars for a replacement provided equal amounts of panic.
Messages from frightening strangers stuffed her Gmail in-box. The distraught and inflamed found her no matter how many times she changed her email provider. Her encrypted email account—Hushmail—the sole communication method she managed to keep private besides her cell phone, contained only one new message, from her sister. Deb wrote daily, always cheerful. Today a long-ago picture of the two of them climbing on iron monkey bars in a Brooklyn playground accompanied her note.
No word from the kids. Occasionally, Kate sent updates about Amelia, Phoebe’s granddaughter. Noah wrote monthly emails filled with agony and anger.
After dashing off a quick note to Deb—“Everything is fine! Weather holding up—more tmw”—she opened Etsy, her online Xanax. Phoebe daydreamed of having an anonymous work life there, building friendships with a community of crafters who appreciated one another only for their dedication to the perfect quilt or ceramic mug. She could sell handmade recipe books devoted to cupcakes. At night, as she struggled toward sleep and fought against memories—and giving in to sleeping pills—she invented pen names: Mimi Appleby. Yoshiko Whisby. Gianna Gardner.
Phoebe tried holding back, but finally, pressing her lips hard together, unable to resist, she opened PrisonMessages.com. Within moments, she found herself captured by Karlgirl’s question: “Would you be angry if your man showed off your sexy pics?”
Phoebe couldn’t conceive of any man wanting photos of her, sexy or otherwise, but still, she slipped into the world and wondered about Jake in that situation.
The man she thought she’d married would have gouged out the eyes of any man trying to see her naked. Today’s Jake would likely sell pictures of her to the highest bidder.
Like a man vowing to stay off porn sites, she slammed her laptop closed.
Ten minutes later, Phoebe reopened it, and then unwrapped a packet of peanut butter crackers as she waited for the machine to come fully alive. She munched as she scrolled through the topics: “Prison Weddings.” “Legal Help.” “Loving a Lifer.” On and on. She never visited “Execution Watch” or “In Memoriam”—the latter full of tributes to those who died in prison—but she lurked in chat rooms, reading, trying to learn something about Jake’s world.
The women she followed were Mrs.25Years, Nick’sOne, and JimmysGirl, all experienced guides to prison protocol. From them, she discovered that underwire bras set off alarms and precipitated a guard’s too-familiar hands feeling you up. Phoebe dreaded seeing someone mention Jake. “Guess who my man saw in the yard!” PrisonMessages.com shackled you to your husband by name and deed.
She clicked “Loving a Lifer,” despite knowing that her love for Jake died more each day. After his confession, Jake had morphed into that awful relative attached to your flesh like a parasite; one you were forced to care for because he lived on your family tree.
She scrolled down the forum, reading titles.
Thread: “What bonds you to your lifer?”
If her daughter could see her, she’d fold her arms and ask, “Exactly, Mom. How can you continue choosing him over us?” Phoebe would again beg Kate to understand why leaving Jake alone, pummeled by a world’s anger, seemed like kicking him as he lay on the ground.
At the time, Phoebe hadn’t thought that she’d chosen Jake or rejected her children, not while the mash of shame, confusion, and loyalty roiled. She hadn’t known how to abandon him. Her son and daughter had their spouses, their children, and each other. Jake could lean only on her. She became his security blanket. He became her prison.
Thread: “I am exhausted.”
Yes. They were all tired, facing their angry men on visiting days. Tired of their men’s locked-up desperation boiled with resentment, these overly sensitive men offended by their need for women living on the outside. They exhausted their women, these men.
Thread: “Need topics for talking with my man on the phone.”
Conversation with Jake required only audible nodding from her.
Thread: “What are the best traits of your lifer?”
Inexhaustible stores of love dust sprinkled the screen. Despite having committed crimes so awful they had received life sentences, these men still inspired their women to enumerate their good qualities. Had they forgiven them their murders, their rapes, their thieving?
Jake swore that no singular moment had marked the beginning of his thievery, but he was lying. Everything began somewhere. He hadn’t slipped into his Byzantine plot. His had been no banana peel of a crime.
And now he talked about the guys. People imagined prisons as all fear and knives, but the truth didn’t unfold so tough. They cooked. They shared books. They were his goddamned buddies.
Phoebe longed for her children. Deep, visceral want threatened to topple her each morning. Antidepressants, antacids, and shame sustained her.
• • •
The cab driver didn’t acknowledge Phoebe, except for nodding when she asked for Ray Brook Federal Correctional. Maybe he was being polite, accustomed to allowing psychic space to sad women visiting locked up men, but more likely, she disgusted him. She recognized the expression: the shock of detection and the scowl.
The face of Jake’s crime. Wife of the demon. Even if she dyed her hair, wore sunglasses, dressed plainer than an Amish woman, someone shook his or her head as she passed.
The prison loomed. The cab stopped.
Tipping the driver worried her. Too little, and he’d despise her. Too much, and he’d hate her for giving him tainted money.
She paid the thirty-five-dollar fare, adding six dollars. Wind hit as she stepped out and faced the cold colorless brick of Ray Brook. Already she’d curled her hands into fists so tight that they ached.
Her entire marriage had been a battle against being known only as Jake’s wife—now she feared the battle could be over for good.
Phoebe had become two almost-spectral things: a widow to a living man, and a childless mother.
Reading Group Guide
This reading group guide for The Widow of Wall Street includes an introduction, discussion questions, and ideas for enhancing your book club. The suggested questions are intended to help your reading group find new and interesting angles and topics for your discussion. We hope that these ideas will enrich your conversation and increase your enjoyment of the book.
When Phoebe met Jake Pierce as a teenager, she knew he was a go-getter; he always said they’d be partners. As he creates a thriving financial dynasty, Phoebe trusts him without hesitation—unaware he is paving a path of deception.
When she learns her husband’s triumph and vast reach rests on an elaborate Ponzi scheme, her world unravels. Jake’s crime is uncovered, opening up speculations, which the world obsesses over. Did Phoebe know her life was fabricated by fraud? Was she an accomplice in this scheme?
Addressing issues of trust and love, The Widow of Wall Street depicts Phoebe’s struggle as she sets out to redefine her life after her perfect world crumbles.
Topics and Questions for Discussion
1. How did the first chapter establish Phoebe as a character?
2. Phoebe remarks to Jake as they discuss their parents’ marriages: “You make marriage sound horrid. Like a game.” He responds with, “The game of love, baby. Everything in life is some sort of contest, and everyone wants to be a winner . . . You and I, we’ll always win” (p. 15). What did Jake mean by this statement? Was his belief apparent in his actions throughout the book?
3. Describe Phoebe’s relationship with Jake in college.
4. Phoebe and her college professor Rob Gardiner embark on a whirlwind relationship while she is still dating Jake. What impact does the professor have on Phoebe’s character and some of her actions?
5. Why did the author decide to write Phoebe and Jake’s story chronologically? Could the author have chosen a different method?
6. What might have been a reason for Phoebe to attempt to pass off her child as Jake's? What did you think about her actions?
7. As the doctor is examining Phoebe at the hospital, she realizes that her “humiliation had no endpoint” (p. 46). How did the author portray Phoebe’s humiliation in this scene?
8. Discuss the structure of the novel. What is the purpose of having chapters that alternate between Phoebe’s viewpoint and Jake’s viewpoint?
9. How does Jake view the Club?
10. At one of their functions, Phoebe, at Jake’s request, talks up his work to some of the potential clients’ wives (p. 106). How would describe her actions? If you were in her place, would you do the same thing for your husband?
11. When Jake stops by the Cupcake Project, he says to Phoebe’s co-workers: “I planned on taking my wife for a glass of wine before we went to the synagogue dinner. Who knew I’d be interrupting the Sara Lee sweatshop?” (p. 131) What do you sense in Jake’s tone? What does it say about his character?
12. Phoebe recalls quotes from a copy of The Feminine Mystique: “It is easier to live through someone else than to become complete yourself,” and “The only way for a woman, as for a man, to find herself, to know herself as a person, is by creative work of her own” (p. 134). How do you see these quotes apply to Phoebe’s present life?
13. How do you think Phoebe was able to keep grounded while Jake lost himself to the greed?
14. On page 168, Phoebe tells Ira at lunch, “Everyone acts differently when they’re with their husband or wife.” She doesn’t seem to believe in her own words—do you?
15. When Jake admits his crimes to his family, did you expect the reactions that occur? What did you think about Kate’s reaction specifically? Whose side are you on?
16. People accuse Phoebe of being involved in her husband’s schemes. What led to Phoebe’s ignorance? Should she have known?
17. “Love and lying coexisted, she supposed” (p. 276). Do you agree with Phoebe’s supposition? Why or why not?
18. What pushes Phoebe past the point of forgiving her husband? Are you surprised by the catalyst(s)? Should she have left her husband sooner?
19. Did the ending satisfy and bring closure? Were you imagining something completely different? What do you think happens after the close of the book?
Enhance Your Book Club
1. Three years into their marriage, Phoebe and Jake’s relationship has shifted somewhat. How did their lives change? Is this change inevitable in all marriages?
2. “Katie and Noah didn’t want to relate to her in that constant way of little kids anymore—but they wanted her there and available at all times. Like a lamp. Perhaps you didn’t need to turn it on every minute, but you sure as hell wanted to know that the moment it got dark, you could. Maybe Phoebe was fooling herself, but teaching children how to fend for themselves every now and then seemed part of the parenting job” (p. 116). Do you agree with how Phoebe views being a parent? Is this a philosophy you have taken when raising children?
3. While Kate and Noah, like their mother, begin to show interest in humanitarian efforts, Jake is displeased: “He didn’t slave so that his kids and wife could grime away down there while he came home to an empty house. He’d be damned if the three of them went off to save the world with cupcakes and basketballs, while he looked like Scrooge counting money in the back room” (p. 154). Later, Phoebe and Jake also argue about Noah’s future, differing on their idea of a good life for him. Do you think this is a common argument between parents? What do you think of Jake’s thoughts? What values are important to you versus the ones important to society? Discuss with your book club.
4. In the letter to Kate, Phoebe writes, “Don’t wear your father’s sins” (p. 257). If you were Kate, how would you react to this statement? Discuss burdens that children might carry from their parents.
5. Why did the author chose the title The Widow of Wall Street? What is significant about it?
Most Helpful Customer Reviews
Fast read, great read. Loved it!
Who ARE those people? I have often thought when reading about Wall Street scandals. How do people become so mired down in the world of money that their morals go out the window? Did their wives know? Their friends, their kids? Randy Susan Meyers dives deep into the heart of this world bringing us along through the eyes of Phoebe, a woman blind (or who often turned a blind eye) to the extent of her husband's financial corruption. I've loved all of Meyers' books and Widow of Wall Street is no exception. I Could. Not. Put. It. Down.
This is a fascinating page-turner with the sizzle of a story ripped from the headlines (Madoff, from the wife’s point of view). “Jake” and “Phoebe” are complex characters with humanizing touches and great behind-the-scenes financial details. Did Phoebe know, or didn’t she? A riveting summer read about greed and its destructive effects on a family. Highly recommend!
Phoebe fell in love with Jake Pierce when she was just 15. A few years older than her, Jake is a handsome, confident young man with high ambition. After their marriage, Jake starts Jake Pierce Equity, or JPE, which is a financial investment firm. He hires people he has known from school and some family members. He also has what he calls the Club which supposedly is open to special people for investment. He has Phoebe touting it to her friends acting like it’s no big thing but people are making tons of money by investing in the Club. People line up to give Jake their money. Over the years, they have two children and Jake becomes more and more successful, juggling his clients. He is a driven man who is also very demanding. But he is hiding a big secret: the Club is just a Ponzi scheme where he is "constantly borrowing from Peter to pay Paul.” Phoebe likes to help with a place called Mira House which helps immigrant women learn new skills. Now, Phoebe and several of these women want to open a nonprofit company called Cupcake Project that makes and sells cupcakes in a cafe atmosphere. Jake agrees to help her fund the startup. But soon Jake’s snide remarks and mean ways start to chip away at Phoebe’ confidence. Even with his bravado attitude, Jake is scared that it all might come crashing down and he often wakes in the night with a pounding heart. Will he be able to continue carrying this off or will his world eventually explode? This was a great story that shows how a combination of arrogance and greed can lead to an addition. The book delves into the lives of the family members and how Jake’s scheme affects all of them. Copy provided by the publisher via NetGalley in exchange for a fair and honest review.
I was not sure what to expect with a Ponzi Wall Street money scheme story. This is not my normal reading material, usually, I would pass on it but since Randy Susan Meyers wrote the book and I am a fan of hers I gave it a try and love it. I was in a reading funk and it got me right out of it. I devoured each page, couldn’t stop reading and felt connected to the characters. I needed Phoebe to stand up for herself and do what was right for her. The children were a small part of the story but I love that they were strong, smart, and willing to protect themselves. I wanted Jake to realize he messed up and admit it. Randy Susan Meyers takes the young love of two 15-year-olds and shows how it can grow stronger as they marry, have kids, and grow old together. Phoebe and Jake wanted it all from a young age. They wanted true love, successful careers, amazing kids, and a life together. While they got it all there was also secrets, darkness, and trouble in their relationship. This is a love story, the story of a man wanting to have it all and share it all with his family. But it is also a look at the trouble that money can cause. Once Jake got a taste of money he just wanted more and more. He was always thinking he’d catch up, have enough, be happy enough but it just never happen and he got caught. Jake was portrayed as a guy who didn’t start out to be shady, he wanted to be successful and provide for his family and then it just snowballed on him. Yet, he never admitted he was wrong. He never accepted that he messed up and because of that he never let his wife go. He expected her to stand by him and to go down with him. Phoebe was wonderful. She stood by her man, took the brunt of the world outside of prison, and stayed strong. I want to believe that was love but I really think it was because she didn’t know who she was without Jake. She was always Jake’s girlfriend or Jake’s wife. She didn’t know how to be Phoebe. I enjoyed seeing her becoming strong, becoming self-sufficient and figuring out how to be without the man who gave her everything. The Wall Street Widow is a story about money, greed, love, betrayal and so much more. I loved the entire story from beginning to end. Pick up your copy immediately.
Wow, wow, wow!!! I absolutely loved this book! Phoebe was practically a widow when she married Jake, the man she had been attached to since the tender age of 15. It was always about him. Everything. He was never home and even when he was home, he was only physically there. Phoebe seemed to be just the eye candy that Jake needed to attract his "investors". Allowing her to attend events when it benefited him only. How in the heck did Jake get away with all this and for over a decade? What an arse he turned out to be. He was a horrible dad, as well. I was mesmerized by this book. The building of Phoebe and Jake's lives together, the construction of Jake's investing empire and the catastrophic failure of his pipe dream. I wanted so many times to slap some sense into Phoebe, especially at the end of the book. So many times I screamed "why" at her. Of course, she didn't hear me. Ha!! All of my emotions were riled by this magnificent story. I sped right through this book neglecting everything else around me, except, of course, the beautiful day happening right outside my opened garage door. An excellent read that should definitely be on everyone's TBR pile. I have been wanting to read this book since before it came out last year. Alas, it was not to happen. Until I signed up to win a copy of the book from the author a few weeks ago. I was psyched when I won. I was really psyched to discover when I received the book that it was a hardcover and signed by the author!!! Double Psych!!!! Thanks to the author, (many, many thanks) for providing me with a free signed hard cover!! As I said, I review all books I read and I was delighted to do so for this book.
I am surprised this book is not being reviewed. The story mirrors the Madoff books almost exactly right down to trying to commit suicide together by taking pills w wine. The last half of this book seems to be lifted from the CNN movie and the books written about him. Unbelievable!