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What followed was a firestorm of controversy. Allied responded with a Washington, D.C.–style spin-job— attacking Einhorn and disseminating half-truths and outright lies. Rather than protect investors by reviewing Einhorn's well-documented case against Allied, the SEC—at the behest of the politically connected Allied— instead investigated Einhorn for stock manipulation. Over the ensuing six years, the SEC allowed Allied
to make the problem bigger by approving more than a dozen additional stock offerings that raised over $1 billion from new investors. Undeterred by the spin-job, lies, and investigations, Greenlight continued its research after the speech and discovered Allied’s behavior was far worse than Einhorn ever suspected— and, shockingly, it continues to this day.
Fooling Some of the People All of the Time is the gripping chronicle of this ongoing saga. Page by page, it delves deep inside Wall Street, showing how the $6 billion hedge fund Greenlight Capital conducts its investment research and detailing the maneuvers of an unscrupulous company. Along the way, you'll witness feckless regulators, compromised politicians, and the barricades our capital markets have erected against exposing misconduct from important Wall Street customers. You will also discover the immense difficulties that prevent the government from sanctioning politically connected companies—making future Enrons inevitable. This revealing book shows the failings of Wall Street: its investment banks, analysts, journalists, and especially our government regulators.
At its most basic level, Allied Capital is the story of Wall Street at its worst. But the story is much bigger than one little-known company. Fooling Some of the People All of the Time is an important call for effective law enforcement, free speech, and fair play.
Interesting insight into the role of state agencies in the failure of public company oversight. Legislation is no good if not accompanied with scrutiny especially in the face of... Read morePublished 22 days ago by Amazon Customer
This book should be required reading for any student who plans to work in or with the finance industry. Read morePublished 1 month ago by nique!
This book is analogous to the book A Civil Action. I am a lawyer who works on plaintiffs' class actions and was amazed at how Allied Capital's tactics and all the... Read morePublished 2 months ago by Brian G. Ruschel
I downloaded this to my kindle on a Thursday night. I read it at every spare minute to finish it late on a Saturday night. I hated putting it down. Read morePublished 3 months ago by Patrick Maher
David Einhorn takes the reader in detail through his short sale of Allied Capital, and addresses issues of fraud, predatory lending, and willfully lackadaisical regulation.Published 4 months ago by walter
a great chronicle of the trials and tribulations according to one of the most articulate of hedge fund managers. Read morePublished 5 months ago by Marlon Varsace
Please do yourself a favor and pick this book up. It is told in such an easily accessible manner than everyone can enjoy it. Read morePublished 7 months ago by RF
This is a rare window into the minds and methods of dodgy (maybe crooked) corporate executives, inept (maybe corrupt) federal regulators, lazy (maybe conflicted) financial... Read morePublished 7 months ago by David M. Freedman
Frustrating to read but very insightful regarding the incompetence of the regulators charged with protecting the US public's tax money.Published 9 months ago by James D. Fornof