Ruthless: How Enraged Investors Reclaimed Their Investments and Beat Wall Street free ebook download.

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Ruthless: How Enraged Investors Reclaimed Their Investments and Beat Wall Street free ebook download

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Author(s):	Phil Trupp

Date:	2024	Format:	pdf	Language:	English	ISBN/ASIN:	0470579897
Pages:	336	OCR:		Quality:		ISBN13:
Uploader:	maveriks	Upload Date:	6/23/2024 3:19:57 AM

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0470579897 pdf
Ruthless is a candid exploration of the criminal subculture of Wall Street, and one of the first books to speak for the victims of the financial meltdown. On February 14, 2008, author Phil Trupp received a call from one of his brokers telling him a large portion of his investments were frozenon iceturning his life and plans for retirement upside down. When the fog started to clear, Trupp realized he was one of many investors caught up in what experts called the greatest attempted securities fraud in modern Wall Street historya $336 billion scam which made the savings and loan scandal of the 1980s look like a simple street mugging.
The path to destruction, financial or otherwise, often begins with a simple proposition. For author Phil Trupp it came from one of his stock brokers: "Take it, Phil. Its free money." This free money came from auction-rate securities (ARS). Auction-Rate Securities are corporate or municipal bonds with a long-term maturity for which the interest rate is reset at frequent auctions. ARS interest rates were higher than money markets and were sold as completely safe, liquid, Triple-A rated "cash equivalents," a deceptive sales pitch that lured hundreds of thousands of investors to buy the securities. Since 2008, most auctions have failed leaving the market largely frozen. The victims ranged from individual investors to the Joffee Foundation, a nonprofit that can no longer fund programs that help prevent AIDS in Africa, to the Port Authority of New York.
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3263377	Book	https://rapidgator.net/file/9358386e491b...		0.00	maveriks

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