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Davies: Lying for Money Book Talk—Noted

Summary:
Brown University: Rhodes Center for International Economics & Finance https://watson.brown.edu/events/2020/book-talk-dan-davies-lying-money-how-legendary-frauds-reveal-workings-our-world: 'Friday, October 16, 2020 12 p.m. – 1 p.m edt: Most white-collar crime works is by manipulating institutional psychology... creating something that looks as much as possible like a normal set of transactions. The drama comes later, when it all unwinds.... There are only so many ways you can con someone out of what’s theirs. In Lying for Money, veteran regulatory economist and market analyst Dan Davies tells the story of fraud through a genealogy of financial malfeasance, including: the Great Salad Oil swindle, the Pigeon King International fraud, the fictional British colony of Poyais in South

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Brown University: Rhodes Center for International Economics & Finance https://watson.brown.edu/events/2020/book-talk-dan-davies-lying-money-how-legendary-frauds-reveal-workings-our-world: 'Friday, October 16, 2020 12 p.m. – 1 p.m edt: Most white-collar crime works is by manipulating institutional psychology... creating something that looks as much as possible like a normal set of transactions. The drama comes later, when it all unwinds.... There are only so many ways you can con someone out of what’s theirs. In Lying for Money, veteran regulatory economist and market analyst Dan Davies tells the story of fraud through a genealogy of financial malfeasance, including: the Great Salad Oil swindle, the Pigeon King International fraud, the fictional British colony of Poyais in South America, the Boston Ladies’ Deposit Company, the Portuguese Banknote Affair, Theranos, and the Bre-X scam. Davies... shows how all frauds, current and historical, belong to one of four categories ("long firm," counterfeiting, control fraud, and market crimes) and operate on the same basic principles. The only elements that change are the victims, the scammers, and the terminology. Davies has years of experience picking the bones out of some of the most famous frauds of the modern age. Now he reveals the big picture that emerges from their labyrinths of deceit and explains how fraud has shaped the entire development of the modern world economy.


.#noted #2020-10-23
Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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