THE WATCHDOGS OF WALL STREET by Hillel Black

THE WATCHDOGS OF WALL STREET

By
Email this review

KIRKUS REVIEW

The trouble with this is that it will probably be read by the wrong people. Those sufficiently interested in the awesome intricacies of stock-selling swindles to read it have a permanent CAVEAT EMPTOR installed in their mind's eye and only support a few of the more imaginative practitioners in Rio. The legion of the naive should have the exotic imperative etched on every mirror in the house and commit the translation to memory. The selling of gold bricks, blind mules and heavily travelled bridges is as old as recorded history, and its modern refinement-the elegant art of peddling largely or totally worthless stocks-is picked up by the author in the bad old days of the late '20's and early '30's. This was before the establishment of the SEC which was supposed to put an end to hanky panky in Wall Street. That this was not precisely true Mr. Black ably and entertainingly demonstrates by showing how Messrs. Tellier, Birrell, Guterma and Belle- not to speak of organized crime-fleeced widows, orphans and the unbereaved alike- out of hundreds of millions of dollars. He points out that we may need more laws and it is clear that we could use a lot more horse sense. Anyone knowing a sucker should give him this book and stand over him with a knout while he reads it.

Pub Date: Sept. 19th, 1962
Publisher: Morrow