Buy now to get the main key ideas from Greg Steinmetz's American Rascal In American Rascal (2022), journalist and financial analyst Greg Steinmetz explores the life of Jay Gould, a colorful nineteenth-century financier whose career triggered the first-ever reforms on Wall Street. Steinmetz details his complex career both on Wall Street and in railroads, as well as the contradiction between his life as a good family man and his financial scheming. Gould’s exploitation of the financial system and his manipulation of the stock market showed how flawed capitalism was, and how deeply those flaws affected the American economy.
Please note: This is a companion version & not the original book. Sample Book Insights: #1 Jay Gould was 17 when he announced to his friend Abel Crosby that he was going to be rich. He was right. #2 Jay Gould was a rich kid who announced to his friend Abel Crosby that he was going to be rich. He was right. #3 Jay Gould was a rich kid who announced to his friend Abel Crosby that he was going to be rich. He was right. #4 Jay Gould was a rich kid who announced to his friend Abel Crosby that he was going to be rich. He was right. He took the time to finish another piece of work. He was on the road only a few days when pneumonia struck. He recovered, but his sister Polly died of tuberculosis. He resolved to stay at home until he was back at full strength. He didn’t go to college, but he taught himself from books.
A gripping, “rollicking” (John Carreyrou, New York Times bestselling author of Bad Blood) biography of Jay Gould, the greatest of the 19th-century robber barons, whose brilliance, greed, and bare-knuckled tactics made him richer than Rockefeller and led Wall Street to institute its first financial reforms. Had Jay Gould put his name on a university or concert hall, he would undoubtedly have been a household name today. The son of a poor farmer whose early life was marked by tragedy, Gould saw money as the means to give his family a better life…even if, to do so, he had to pull a fast one on everyone else. After entering Wall Street at the age of twenty-four, he quickly became notorious when he paralyzed the economy and nearly toppled President Ulysses S. Grant in the Black Friday market collapse of 1869 in an attempt to corner the market on gold—an event that remains among the darkest days in Wall Street history. Through clever financial maneuvers, he gained control over one of every six miles of the country’s rapidly expanding network for railroad tracks—coming close to creating the first truly transcontinental railroad and making himself one of the richest men in America. American Rascal shows Gould’s complex, quirky character. He was at once praised for his brilliance by Rockefeller and Vanderbilt and condemned for forever destroying American business values by Mark Twain. He lived a colorful life, trading jokes with Thomas Edison, figuring Thomas Nast’s best sketches, paying Boss Tweed’s bail, and commuting to work in a 200-foot yacht. Gould thrived in an expanding, industrial economy in which authorities tolerated inside trading and stock price manipulation because they believed regulation would stifle the progress. But by taking these practices to new levels, Gould showed how unbridled capitalism was, in fact, dangerous for the American economy. This “gripping biography” (Fortune) explores how Gould’s audacious exploitation of economic freedom triggered the first public demands for financial reforms—a call that still resonates today.
“A colorful introduction to one of the most influential businessmen in history” (The New York Times Book Review), Jacob Fugger—the Renaissance banker “who wrote the playbook for everyone who keeps score with money” (Bryan Burrough, author of Days of Rage). In the days when Columbus sailed the ocean and Da Vinci painted the Mona Lisa, a German banker named Jacob Fugger became the richest man in history. Fugger lived in Germany at the turn of the sixteenth century, the grandson of a peasant. By the time he died, his fortune amounted to nearly two percent of European GDP. In an era when kings had unlimited power, Fugger dared to stare down heads of state and ask them to pay back their loans—with interest. It was this coolness and self-assurance, along with his inexhaustible ambition, that made him not only the richest man ever, but a force of history as well. Before Fugger came along it was illegal under church law to charge interest on loans, but he got the Pope to change that. He also helped trigger the Reformation and likely funded Magellan’s circumnavigation of the globe. His creation of a news service gave him an information edge over his rivals and customers and earned Fugger a footnote in the history of journalism. And he took Austria’s Habsburg family from being second-tier sovereigns to rulers of the first empire where the sun never set. “Enjoyable…readable and fast-paced” (The Wall Street Journal), The Richest Man Who Ever Lived is more than a tale about the most influential businessman of all time. It is a story about palace intrigue, knights in battle, family tragedy and triumph, and a violent clash between the one percent and everybody else. “The tale of Fugger’s aspiration, ruthlessness, and greed is riveting” (The Economist).
Jay Gould was an individual who for a century has been singled out as the most unscrupulous of the turn-of-the-century robber barons. In this splendid biography Maury Klein paints the most complete portrait of the notorious Gould ever written. Klein's Gould is a brilliant but ruthless businessman who merged dying railroads into expansive, profit-making lines, including the giant Union Pacific. 40 illustrations.
In 1998, at the very moment that a publisher had approached Bruce Davidson about a book of his 1959 Brooklyn Gang photographs, former gang leader Bobby Powers unexpectedly telephoned the Davidsons. Over the next decade, Emily Davidson maintained an ongoing conversation with Powers in order to bring to light his struggle to overcome his drug-ridden and violent past and to inspire others with his example. Through the words and reflections of the former drug addict and petty criminal, this book relates the long, agonizing journey from youthful urban violence and despair to the life of a committed and generous professional. Beginning in a working-class Brooklyn neighborhood in the mid 1950s where alcohol abuse and poverty were rampant, Bobby Powers went from being an illiterate gang leader and notorious drug dealer to a destroyed individual who had lost everything, including family members, close friends, and himself, all presented in his own words and in grim detail in this book. At a critical turning point in his life, recognizing the threat of his behaviors to survival, he entered detox and embarked on the arduous path to recovery and self-understanding. This process involved not only acknowledging and coming to terms with the injuries he had inflicted on his children and others, but also asking for their forgiveness. Having achieved a new way of life as a responsible and caring adult, Bobby Powers is today, at 69, a nationally respected drug addiction counselor who has aided a wide spectrum of people, including former gang members. His story represents a brutal and inspiring lesson in human frailty, degradation, and transformation.
In this volume, Michael P. Malone provides a succinct interpretive biography of James J. Hill, the "Empire Builder"-so called for his work in developing the region of the United States between the Great Lakes and the Pacific Northwest. Malone explores Hill’s complex life and personality, his activities and interests, and recreates both the story of the railroad race to the Pacific and the complex interactions involved in the development of the region. "Michael Malone has written a model. . . .interpretative biography of James J. Hill. He has drawn on the research of others, published and unpublished, as he says, but also on his own knowledge of American economic development in Hill’s time as a leading historian of mining and of a state in whose development Hill’s railroads were major factors." -Earl Pomeroy, Professor of History, Retired, University of Oregon and University of California, San Diego
In this short biography of Mayer Amschel Rothschild (1744-1812), historian and journalist Amos Elon describes how the founder of the Rothschild dynasty started out by dealing in rare coins and traveling across Germany while still confined, as a Frankfurt Jew, to its Judengasse. Assisted by his five skilled sons, Rothschild subsequently built up a fortune by helping manage the investments of the Landgrave of Hesse, circumventing Napoleon’s blockade of England and funding Napoleon’s eventual defeat. “This slim, charming volume is actually a biographical essay, yet it succeeds in snatching its elusive subject from oblivion.” — Ron Chernow, The New York Times “This is a fascinating story.” — The New York Review of Books “A memorable first biography of a near-mythical founding father.” — Publishers Weekly “A thoroughly researched, fascinating, and altogether exemplary biography.” —Kirkus Reviews “Amos Elon’s portrait of the man who fathered a dynasty makes fascinating reading for anyone even mildly interested in money and power and their effects on history. Founder is a rich and colorful examination of [Meyer Amschel Rothschild]” — Morley Safer “Elon’s book... is a thoroughly researched and absorbing biography.” — St. Louis Jewish Light “A biography that’s a must read for today’s entrepreneurs.” — Houston Chronicle
In September 1869, two young speculators, Jay Gould and Jim Fisk, Jr., undertook perhaps the most audacious financial operation in American history - the cornering of the national gold supply. Fisk and Gould manipulated prices to the point that legitimate commerce froze to a halt. When the federal Treasury finally broke the corner on Black Friday, September 24, the price of $100 gold coin fell from $160 to $130 in fifteen minutes, sparking a national financial panic, a stock market depression, and the bankruptcy of major trading houses. The scandal reached the very household of President Ulysses Grant, and only the intervention of their friend, Boss Tweed of Tammany Hall, saved Fisk and Gould from personal ruin.
