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Circle of Greed: The Spectacular Rise and Fall of the Lawyer Who Brought Corporate America to Its Knees [Hardcover]

Patrick Dillon , Carl Cannon
4.2 out of 5 stars  See all reviews (20 customer reviews)


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Book Description

March 2, 2010
Circle of Greed is the epic story of the rise and fall of Bill Lerach, once the leading class action lawyer in America and now a convicted felon.  For more than two decades, Lerach threatened, shook down and sued top Fortune 500 companies, including Disney, Apple, Time Warner, and—most famously—Enron.  Now, the man who brought corporate moguls to their knees has fallen prey to the same corrupt impulses of his enemies, and is paying the price by serving time in federal prison.       
If there was ever a modern Greek tragedy about a man and his times, about corporate arrogance and illusions and the scorched-earth tactics to not only counteract corporate America but to beat it at its own game, Bill Lerach's story is it.   


Editorial Reviews

Review

“John Grisham would have to struggle to invent a character as brilliant and unethical as Bill Lerach. It is a credit to the reporting talents of Patrick Dillon and Carl M. Cannon that, in “Circle of Greed,” they capture the felon-lawyer in all his charm and ruthlessness. Along the way they show how the plaintiffs' bar has transformed the process of class actions into big business.”
Wall Street Journal
 

“[A] revelatory yarn . . . In “Circle of Greed,” the authors do justice to their subject and have produced a book that proves the adage that truth can be stranger than fiction.”
Washington Times
 
“Mr. Dillon and Mr. Cannon have written the type of book that, like “Den of Thieves” and “Smartest Guys in the Room,” helps to explain an era.”
— NYTimes.com/DealBook
 
“In Circle of Greed , this compelling narrative becomes an irresistible metaphor for the hubris at the heart of capitalism . . . Lerach is lucky to have Pulitzer Prize-winning journalists Patrick Dillon and Carl Cannon as his chroniclers. They tell his tale with an authority and depth that comes from having followed his career since the late 1970s. . .  Amid the entertaining knockabout and big personalities, the authors raise important questions about how the rule of law should work in a capitalist democracy.”
Financial Times
 
 “[R]iveting . . . Telling this complex story is a tricky business, but Circle of Greed is up to the task: it is impressively researched and well paced, and offers reporting, not editorializing, leaving the reader to form his or her own judgments.”
Washington Monthly


"A well-reported, densely written saga" --Kirkus Reviews

"In modern corporate America, the swashbuckling captains of industry have long been the primary characters exposed in the public storytelling. But now, Patrick Dillon and Carl Cannon have stripped away the veneer of a lawyer who made his name as the business world’s chief adversary, Bill Lerach. In Circle of Greed, Dillon and Cannon present a painstakingly researched and entertaining tale of a legal dynamo who seemed able to root out any corporate crime, but then became enmeshed in frauds of his own. Lerach had it all, then lost it all because of his own greed and arrogance. In this thrilling book, Dillon and Cannon have unwound the character of this perplexing man, presenting a cautionary tale that is must-reading for anyone interested in business or the law."

--Kurt Eichenwald, author of The Informant and Conspiracy of Fools
 

About the Author

Patrick Dillon has won many journalism awards including a share of the Pulitzer Prize- and is the author of the acclaimed Lost at Sea.  The executive editor of California magazine, he was formerly editor in chief of Forbes ASAP, a writer for the Christian Science Monitor, and an editor and columnist at the San Jose Mercury News.  He lives in San Francisco, California.
Carl M. Cannon is the deputy editor of politicsdaily.com and coauthor of Reagan's Disciple: George W. Bush's Troubled Quest for a Presidential Legacy.  He has won numerous awards, including a share of the Pulitzer Prize in 1989, and the prestigious Gerald R. Ford Prize for Distinguished Reporting of the Presidency.  He lives in Arlington, Virginia.

Product Details

  • Hardcover: 544 pages
  • Publisher: Broadway; 1 edition (March 2, 2010)
  • Language: English
  • ISBN-10: 0767929942
  • ISBN-13: 978-0767929943
  • Product Dimensions: 1.9 x 6.7 x 10.2 inches
  • Shipping Weight: 2 pounds
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (20 customer reviews)
  • Amazon Best Sellers Rank: #671,180 in Books (See Top 100 in Books)

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Customer Reviews

Dillon and Cannon paint an interesting picture of a complicated anti-hero. Erik Vance  |  6 reviewers made a similar statement
There is something of interest for everyone in this book. Ginny-May  |  8 reviewers made a similar statement
Most Helpful Customer Reviews
23 of 24 people found the following review helpful
5.0 out of 5 stars A Rorschach Test: Class Actions April 26, 2010
Format:Hardcover
Circle of Greed provides a fascinating account of the rise and fall one of the most famous--or infamous--class action lawyers, Bill Lerach. The book has many fine qualities. First, it is very interesting reading. Lerach has lived a colorful life, and Dillon and Cannon tell a heck of a story.

Second, because Lerach was so prominent in prosecuting class actions, the book provides a concise history of many of the most important cases of fraud in the financial industry over the last several decades, a history that could not be more timely. Dillon and Cannon do a wonderful job of explaining in clear and accessible terms some of the shenanigans in which corporate America has engaged. Those descriptions by themselves justify the price of the book.

Third, Circle of Greed offers a balanced account of class actions and their virtues and vices as a means of achieving justice. Lerach himself appears as a complicated character: a true believer who was so committed to his cause--and to winning--that he was willing to bend and even break the rules, leading to his incarceration.

As a law professor, I teach about and study class actions and complex litigation. Over the years I have learned that people's ideological commitments tend to shape their views of class action litigation rather than the other way around. As a result, Circle of Greed is likely to be a Rorschach test. Those who hate class actions may object that Dillon and Cannon fail to condemn Lerach in clear enough terms. Those who are enamored with class actions may think Dillon and Cannon were too tough on Lerach--or should have chosen a more sympathetic subject, a class action lawyer who acted more ethically. But those who read Circle of Greed with an open mind may learn a little bit about one man's story, as well as a bit about the strengths and weaknesses of class litigation. Dillon and Cannon just provide the facts. The reader has to decide what to do with them.
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8 of 8 people found the following review helpful
5.0 out of 5 stars The Culture of Contradictions April 28, 2010
Format:Hardcover
I found the book compelling and timely - given today's social, political and economic climates. Cannon and Dillon have created an amazing and very readable account of the inner workings of class-action suits within the legal system, the formation of questionable political, legal, and corporate liaisons, the lack-luster SEC, investigative work, and cheating. The unfolding revelations within the text are both troubling and fascinating at the same time. The authors clearly reveal there is not much of a delineation between narcissistic, brilliant people and stupidity. Lerach is a conumdrum; and his world of law is clearly full of moral and ethical contradictions. Kuddos to the authors for providing such a wonderfully detailed account of Lerach's world and giving greater insight into the socio-political inadequacies that have become a part of this nation's conscience.
KW
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11 of 12 people found the following review helpful
5.0 out of 5 stars Compelling, fascinating, fair and insightful March 16, 2010
By Dan
Format:Hardcover|Amazon Verified Purchase
A tremendous book. A gripping page-turner that every reader will enjoy - even people without a background or specific interest in politics or law. Objectively and thoroughly reported, the authors make complex subjects understandable and present the tale of a larger-than-life character in a tale that someone will certainly turn into a blockbuster movie.
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Most Recent Customer Reviews
5.0 out of 5 stars Outstanding; reads like a well-paced novel
Excellent read for anyone interested in either the business of mass tort law in the U.S., or in learning the story of a William Lerach, a fascinating character. Read more
Published 23 days ago by avid reader
4.0 out of 5 stars A page turner!
I enjoyed this book tremendously. The lawyer is totally three-dimensional, an authentic human being; the story is engaging, in fact, I could not put the book down. Read more
Published 4 months ago by Simone Signoret
4.0 out of 5 stars Fascinating story, but could have been told better
Definitely a fascinating story, but it reads more like a textbook than a novel. Geared more towards disciples of the law than the average reader... Read more
Published 7 months ago by ReyAce
5.0 out of 5 stars Like War and Peace In Its Coverage of the Human Experience.
A college roommate implored me to read Tolstoy's War and Peace.

His persuasive pitch was that the book covered every aspect of the human experience. Read more
Published on December 29, 2010 by Richard J. Radcliffe
4.0 out of 5 stars compelling insights into how corporate greed spreads its tentacles
This is a compelling read--I couldn't put it down--and tells the remarkable story of Bill Lerach, the major fraud litigator in America for the 30 years between 1975 and 2005. Read more
Published on December 28, 2010 by Federico (Fred) Moramarco
5.0 out of 5 stars Must-read, and not just for lawyers
Lawyers will love this book. Non-lawyers will too. That's a recipe for an excellently reported and written narrative about a man who got caught up in a legal system that he'd... Read more
Published on May 12, 2010 by Book Lover 34
5.0 out of 5 stars Engaging, Entertaining and Impeccably-Researched Book
If you enjoy well-written non-fiction about interesting characters and their foibles in the business/legal world, certainly add 'Circle of Greed' to your reading list. Read more
Published on April 27, 2010 by JAL
5.0 out of 5 stars Complicated Morality Play
You've heard of the blind leading the blind? How about the amoral prosecuting the amoral?
Dillon and Cannon paint an interesting picture of a complicated anti-hero. Read more
Published on April 26, 2010 by Erik Vance
5.0 out of 5 stars Been waiting for this
As someone who has closely followed the life and career of Bill Lerach I have been waiting quite some time for someone to write this book, knowing that any recounting of legal work... Read more
Published on April 23, 2010 by Mark Dowie
3.0 out of 5 stars Glad it was published - but it's padded and has lots of mistakes
I'm a plaintiffs' class action lawyer (but not one who does securities fraud/derivative cases). Still, this book gives some pretty accurate details about how plaintiffs get... Read more
Published on April 19, 2010 by Brian G. Ruschel
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