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review 2017-04-19 12:57
The Widow of Wall Street
The Widow of Wall Street: A Novel - Randy Susan Meyers

Phoebe always was a girl who loved her books, and she found a husband who also loved his books, but a different kind than Phoebe loved.

 

Phoebe loved her school books, Jake loved his books that showed his money growing. 

Phoebe married Jake at a young age, and Jake said he would always take care of her.

 

Jake's parents had been in some sort of trouble, and Phoebe's mother never liked him. THE WIDOW OF WALL STREET follows Phoebe and Jake from their teenage years, through the years of marriage, and through the crisis ranging from 1960 to 2010.

 

As Jake's empire grew, Phoebe became dragged in as well, but only by talking up her husband's business and how well it was doing. The years went by, and Jake made money, but he was in over his head most of the time. When Jake's empire tumbles, Phoebe, the loyal, compliant wife, tumbles with him.

 

Readers who enjoy women's fiction, drama, and a strong female character will enjoy this book. 



 

Ms. Meyers' marvelous writing pulls the reader into the high stakes of Wall Street, the power and lives of the wealthy, and reminds us of the saying: “Money is the root of all evil.“

 



I enjoyed THE WIDOW OF WALL STREET along with its tense moments and a truly thoughtful ending.

 

ENJOY if you read this book. 5/5



 

This book was given to me free of charge and without compensation by the publisher in return for an honest review.

Source: silversolara.blogspot.com
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review 2017-04-09 05:52
The Widow of Wall Street
The Widow of Wall Street: A Novel - Randy Susan Meyers

By:  Randy Susan Meyers

ISBN: 9781501131349

Publisher:  Atria Books

Publication Date: 4/11/2017 

Format:  Hardcover

My Rating: 5 Stars 

 

Randy Susan Myers returns following Accidents of Marriage (2014) with her latest riveting domestic suspense, THE WIDOW OF WALL STREET bold and edgy an inside look at betrayal in a marriage.

The blind love, lies, dark secrets; the unraveling, devastation, and the need to rebuild a life after the fallout of Wall Street and a fraudulent husband's Ponzi scheme. Was the wife living in denial?

Phoebe and Jake met when they were teens. Jake and Phoebe come from different backgrounds. Jake is obsessed with money and success. He wants and needs a different future than his childhood. He thinks this will earn him the respect he craves.

Phoebe makes a wrong decision, leading her to guilt and loyalty to Jake. They marry, despite her overbearing mom’s warning.

He soon excels and opens a brokerage house. Things go well. However, soon greed, power, and money get in the way. He is dishonest. He thinks it is temporary. He has a private fund. A Ponzi scheme. A crime soon to be uncovered. The time bomb. Fraud.

Phoebe is blind to it all. The money is flowing – wealth, prestige, homes, and power,

Starting from Nov 2009, we learn Jake is now in prison. They have lost everything. Phoebe takes a Greyhound bus to the upstate NY correctional prison. She despises him. He still has her under his thumb, worrying about what she is wearing and appearances. He still has not acknowledged his part in the disaster.

However, Phoebe is struggling. She has taken her husband’s side over her children, causing a huge strain. Her children are strangers to her now. She must face Jake’s crime. The wife of a demon.

Her entire marriage had been a battle against being known only as Jake’s wife—now she feared the battle could be over for good. She had become a widow to a living man and a childless mother.

How did they get to this place? People wondered if she knew. Was she this naïve? She trusted this man. Her life is shattered. How many people has he fooled? A monster.

The author takes us back to the early days to the 1960s, where we hear from two points of view: Phoebe and Jake. The roller coaster ride from mansions, and wealth to prison.

When yet another tragedy occurs, Phoebe is forced to make a decision. She has to cut Jake free, even though he felt he could straddle the world on other’s people’s legs. Love and loss. Survival. He had squandered and cheated people and fooled millionaires, and lessons never learned.

Can Phoebe survive this disaster and come out whole once again? A different person perhaps?

The author does an outstanding job with the couple's journey from both perspectives. What a ride. The dark secrets of a husband and his scheming. A financial empire crumbling. The betrayal. From domestic suspense to psychological.

If you enjoyed the Madoff miniseries, (good), assured to find THE WIDOW OF WALL STREET engaging. Of course, in Palm Beach we hear his name often; however, Trump has taken over the spotlight here on the island.

Randy Susan Myers tackles highly charged topics, telling deeply personal stories of women. Their complexities, fear, pride and despair are woven brilliantly into the absorbing narrative.

Fans of Jodi Picoult, Diane Chamberlain, (A Stolen Marriage) Kimberly S. Belle (The Marriage Lie) and Liane Moriarty (Big Little Lies) will appreciate the complex relationships and the emotional inner lives of women in crisis.

Read the backstory.

A special thank you to Atria and NetGalley for an early reading copy.

JDCMustReadBooks

Source: www.judithdcollinsconsulting.com/single-post/2016/09/01/The-Widow-of-Wall-Street
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review 2017-02-01 20:23
Brooklyn Streets Meet Wall Street
Brooklyn Streets Meet Wall Street - James Jimmy Richardson

Title: Brooklyn Streets Meet Wall Street
Author: James Jimmy Richardson
Publisher: Createspace Independent Publishing Platform
Reviewed By: Arlena Dean
Rating: Four
Review:

"Brooklyn Streets Meet Wall Street

My Thoughts....

I found this read 'interesting, riveting, entertaining. thought provoking with plenty of drama' that will keep you turning the pages to see what will be coming next for Josh Robinson in this urban fiction read. It was a good read about this African American whose dream came true for him as he is given a chance to work with financial investments on 'Wall Street' and getting most of all what he wanted in life and that was wearing a suit. However, in doing so Josh will be presented with some 'mistakes, struggles and tough choices' before he is able to get to where he wants to be in life. This author does a good job in giving the reader a good description of how it was to grow up in Brooklyn, NY really poor having to struggle very hard making it, with crime being all around dealing with murder, drugs that seem to bring out a hard world of violence. How was Josh able to be away from all of the violence that was around him and have the life he really wanted? To find out the answers to that question and so much more you will have to pick up this novel to see how well this author brings it all out to the readers. The reader will be given a well developed, portrayed and with believable characters that will keep one entertained in this well written story of 'high finance and even a sweet romance.'

 

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review 2016-08-16 00:00
The Marine Corps Way to Win on Wall Street: 11 Key Principles from Battlefield to Boardroom
The Marine Corps Way to Win on Wall Stre... The Marine Corps Way to Win on Wall Street: 11 Key Principles from Battlefield to Boardroom - Ken Marlin I really enjoyed this book. I was impressed by all of Mr. Marlin's accounts of various deals, corporate decisions, political decisions, as well as military campaigns that worked or didn't and why. He gives 11 rules that he learned while in the marines and employs in the running of his internationally famous boutique bank that deals with household name companies on a large scale. I feel Mr. Marlin is both visionary and his approach revolutionary, and if employed throughout corporate, financial, political realms, etc. it would be truly world changing. He is a man of character, principles, and standards and carries that into his professional life, business practices, and how he advises and handles clients, even if it means losing money to do the right thing. I think that these same 11 guiding principles could be applied to every area of life and see successful results if consistent. I would recommend this book to all thinking adults as food for thought and concepts to ponder. I received this book as an Arc in a giveaway.
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review 2016-08-08 03:52
You Know Nothing, John Snow
And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina - Paul Blustein

Looking back across the historical chasm from 2005, financial journalist Paul Blaustein dissects the 2000-2002 slow collapse of the Argentine bond market, which ended with the devaluation of the Argentine peso, and the resignation of their president.

 

There are a few good angles explored here, which I won't do justice, but I can at least list off-the-cuff:

 

1)  Why it wasn't a good idea for Argentina to peg the peso to the US dollar:

Going back to the 1930's, Argentina has had chronic problems with confidence in their currency, often resulting in hyperinflation. In the early 1990's, linking the peso to the US dollar looked like it would be a good solution. This means that no matter what happened in the Argentine economy, 1 peso would always be redeemable to 1 dollar. This made foreign investors more likely to invest in Argentine bonds, because if the bond earned (say) 6%, it would really be 6% they were getting back.. the Argentine government couldn't just inflate the currency so they could nominally pay 6%, but deliver considerably less buying power.  This worked for a while, and the economy really prospered in the mid to late 1990s (for many assorted reasons). Problems arose when (a) the U.S. economy took off relative to the Argentine economy, and Argentina had a hard time coming up with money to pay its debts in U.S. denominated notes. Also: linking the peso to the dollar essentially abrogated Argentina's ability to control its own money supply, which limited their ability to stimulate or moderate the economy.

 

2)  How globalization carries the seeds of its own undoing:

The International Monetary Fund (IMF) was conceived at the end of World War II. Ostensibly, it was founded to be an international lender, an underwriter to help weaker currencies weather difficult times, and in general to assist in international debt restructuring (as a preferable option to economic collapse).  In practice, it has become (and may always have been intended to be) a tool of globalist international banks, who have used it in a somewhat predatory way, by lending money contingent on hard-up nations accepting harsh "restructuring" terms which destroy domestic protections of indigenous developing industry, and often displacing labor and rendering it vulnerable to egregious exploitation by multinationals who force their way in under the IMF terms. (All in the name of efficiency, natch.)

 

For decades this worked well for the international banking cartel and a few cherry-picked success stories, and very poorly for everybody else.  But... as globalization has extended its tentacles around the world, and has advanced its agenda more and more forcefully, it has loosened up international investing and money transfers to the point that the international investor class can slush money around the world with virtually no legal or economic restrictions.  It is the realization of the globalists' dream, when they minted the IMF!   However, one consequence of this new Earth investing environment emerged around 2000:  private money became so easily available in the form of bonds sold on the international market, that countries with unstable debt didn't actually need to come hat-in-hand to the IMF for bailout money... they could find enough suckers on the international bond market!  

 

This worked to Argentina's benefit from 1999 into 2001, as Argentina was unable to service its old debt, yet was somehow able to accrue MORE debt to service the old debt. With each round of new bond issues, the interest promised would get higher and higher, reflecting the risk (i.e. the unliklihood that Argentina would ever be able to actually repay the amount borrowed)... and investors loved it!  Who wouldn't want to buy a bond paying 15% interest?? (Hint: somebody who knew they'd never actually see the money promised.)  When economists at the IMF threatened to cut Argentina off from any bailouts, Argentina (figuratively) laughed in their face!  "Who needs ya?  We just sold another round of municipal bonds."

 

Argentina could get away with this for a while, because the "Asian Financial Flu" of 1998 made international investors skittish about putting their money in the "Tiger Economies" of South Korea, Thailand, Singapore, Indonesia, Vietnam, etc.  Argentina was still living off its "rising star" reputation of the early 1990's, so people looking for somewhere to put their money didn't ask enough questions when Argentina started putting bonds on the market.  The gravy train ended when the Asian economies started to come back from their mini-recession, and pronouncements from the IMF started to raise questions about how good a deal these Argentine bonds actually were.

 

3)  Moral Hazard:

This term gets thrown around a lot. It has to do with rewarding investors who take on more risk. If I spend my hard-earned money on a risky investment, it's because I think it might have a spectacular payoff.  Everybody loves to dream about the penny stock which grows to become the next Microsoft, etc. (In the case of this book, the investment vehicle wasn't penny stocks, it was Argentine municipal bonds, but the mechanism is the same.) This relationship between risk and reward can get short-circuited, when some outside force like the IMF comes in and promises to bail out the venture, if things go bad.  Suddenly the penny stock company becomes a venture that can't fail!  (Whereas in reality, failure is statistically the most likely fate of most penny stock companies.)  Now it's a too-good-to be-true investment! ...But why should taxpayers (of member nations of the IMF in this case) money go into making these high-payoff investments a sure-thing for a few investors?  Where's the justice in that?  And not every penny stock company gets bailed out, only some, so how does that get decided (hint: corruption), and how is that fair?  It isn't, and such interference with moral hazard can fuck with the fair valuations of every investment vehicle on the market, if you aren't careful.  Argentina and the IMF ran into some of that, when the IMF finally agreed to help Argentina service some of its debt.

 

4) There is no international equivalent to the American legal device of "declaring bankruptcy".  

 

A lot of people think it's unfair that individuals who get into deep enough financial trouble can essentially "hit the reset button" and walk away from their obligations, leaving lenders with a big loss.  Yet, there is actually a legitimate function to this legal pathway, so long as it isn't abused.  Without it, individuals might be forever trapped under unmanageable debt, unable to ever be the good consumers American-style Capitalism wants us all to be. It would also preclude somebody with otherwise good business acumen from ever overcoming a one-time mistake, to once again become a successful entrepreneur (i.e. employer, taxpayer, innovator, etc).  

 

Unfortunately, no such pathway exists for nations which mismanage their debt. Blaustein lays out a good case for why there probably should be. 

 

 

If you are interested in any of this kind of stuff, this is a decent (but not great) read. There are a lot of nice details sprinkled in, about the different players in this story, and what they are like on a personal level. If you tend to be unsympathetic towards predatory banks like JP Morgan, it is nice to see Blaustein cutting them exactly zero slack for their role in Argentina's undoing.  Likewise for the Treasury Dept under George W. Bush. The final few pages detail then-Treasury Secretary John Snow tying himself into knots of pretzel logic in front of Congress, testifying why he thinks countries with unmanageable debt are a great investment, why he thinks American taxpayers' money should go into saving unrealistically-risky bonds from failing just so a few mega-rich investors won't have to take a loss, and (best of all) why what happened to Argentina "could never happen here" (!!)

 

 

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