You’ve heard of the scheme. Now comes the man behind it. In Mitchell Zuckoff's exhilarating book, the first nonfiction account of Charles Pon...
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Jan 20, 2009
Philip
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I couldn't put this down. If you are interested in understanding what has happened in today's markets in terms of general greed and outright fraud, you have to read this book. The drivers that led to this scheme are eerily similar to the drivers that have fueled the market collapse from over exuberance to outright fraud. It is almost frightening to see that little has changed when you compare Ponzi's scheme to Madoff's! For those of you familiar with the fall of communism in Russia, the MMM
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Feb 05, 2009
A journalism professor at Boston University, Zuckoff has written a solid biography of a great American legend. Zuckoff, who mined archival newspapers, almanacs, letters, and photographs, recreates intriguing characters. Greed may have driven Ponzi, who led a comfortable life in Italy, and yet the great schemer emerges as charismatic, clever, and even strangely lovable. The efficient narrative, despite some digressions, focuses on Ponzi's story and largely ignores the era's social and political m
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Feb 01, 2011
Brad
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Great book on the life of Charles Ponzi. I knew virtually nothing about him, other than what a "Ponzi Scheme" was (rob Peter to pay Paul), but Zuckoff covered Ponzi in great detail, including the events that led to his downfall. He also was able to paint a picture of a complex man, not simply a picture of a guy who swindled thousands out of their money. It was interesting to learn that Ponzi underwent multiple surgeries to have skin surgically removed from his back, and donated to a
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Dec 20, 2008
Kelli
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A sympathetic biography of the man who nearly took down the Boston banking system. Though I knew how this story ends, having used the term "Ponzi scheme" in conversation, I enjoyed this fascinating look at a man who arrived with a plan that the public wanted to believe in, at just the right time in history. While it was made plain that Ponzi spent a good deal of his days in delusion, I found myself rooting for him at times, thinking, "Hey, maybe you CAN get yourself out of this me
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Nov 16, 2011
Ellen
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What a great biography. This was so well written--not dry and financial. Zuckoff did a very nice job, using only actual quotes and reports but making the book read like fiction, including the love story between Charles Ponzi and his wife, Rose. It would make a fabulous movie. You actually start to feel bad for Ponzi. An interesting fact: no one went unpaid until the Boston bank regulators and investigators shut him out of his bank accounts. To this day no one knows exactly how he ran the
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Oct 11, 2009
Craig
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This book should have been called "Ponzi's Cogliones" because Charles Ponzi had a huge pair.
Ponzi was not the first guy to try to pull of a rob-Peter-to-pay-Paul scheme, but he clearly was the most well-known, well, at least until Bernie Madoff came along and made us all feel violated. But, unlike Bernie Madoff, there was a lot to like about Charles Ponzi, as he had some redeemable characteristics (eternal optimist, good son, good husband) and undeniable charisma. Sure, lo More...
Ponzi was not the first guy to try to pull of a rob-Peter-to-pay-Paul scheme, but he clearly was the most well-known, well, at least until Bernie Madoff came along and made us all feel violated. But, unlike Bernie Madoff, there was a lot to like about Charles Ponzi, as he had some redeemable characteristics (eternal optimist, good son, good husband) and undeniable charisma. Sure, lo More...
Jul 01, 2009
Eric_W
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It seems appropriate to finish this book a day after Madoff was sentenced to 150 years. The parallels to today's economic crash and Madoff are striking. A charismatic personality, connections with those in power, "too big to fail syndrome," a gullible and avaricious public coupled with an adoring media had people rushing to give Charles Ponzi their money. He was raking it in so fast that he reached $1 million per week with the possibility of $1 million per day not impossible.And this
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Jul 21, 2009
Usako
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Dec 14, 2011
Krys
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The infamous Charles Ponzi, the namesake for today's notorious Ponzi schemers. Charles Ponzi fraudulently made his millions in the 1920's and it was interesting to see how basically similar these 'rob Peter to pay Paul' schemes have been throughout the years. He promised outrageously high returns with apparent no risk, and people lined up to hand over their money.
Interesting enough as a small short-story in a journal, but as a book much of the material was not interesting enough to More...
Interesting enough as a small short-story in a journal, but as a book much of the material was not interesting enough to More...
Jun 16, 2009
Edward
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This was a very good historical account of a major financial fraud, ala Madoff, robbing Peter to pay Paul. It has become known as a Ponzi scheme from this man who perpetrated his fraud in Boston in 1920.
It was really interesting to read this historical account of the times after having read the novel Any GIven Day by Dennis Lehane that dealt with the Boston police strike in 1920.
I read this on my Sony e reader.
It was really interesting to read this historical account of the times after having read the novel Any GIven Day by Dennis Lehane that dealt with the Boston police strike in 1920.
I read this on my Sony e reader.
Apr 26, 2009
Bart
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I enjoyed learning more about how Ponzi pulled off his scheme. I had heard the author interviewed on Dennis Prager's radio show and was intrigued to learn more about the story. I suspect many "ponzi" schemes start off with good intentions but quickly spiral out of control. Today, we hear about Madoff and affix blame both to Madoff and those who blindly threw money at him.
Apr 06, 2011
Frishawn
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I really enjoyed the story of Carlo "Charles" Ponzi and his attempt, albeit misguided, to achieve his version of the American Dream. This book was so well-written that I forgot that I was reading a work of non-fiction. I was captivated by all aspects of Ponzi's ill-fated life and found myself fretting his fate by the end. LOVED LOVED LOVED THIS BOOK
Dec 22, 2009
Keith
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There is something almost admirable about the charming rouge who swindled the people of Boston out of millions in the 1920's. Zuckoff does a fine job of conveying why so many people risked their life savings on Ponzi's irrational promises of easy money. On some level Ponzi seems to have believed his own con and genuinely thought he could make everyone rich just by robbing Peter to pay Paul.
Sep 12, 2009
David
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Good book. Interesting story of a man who had a total drive to succeed. Was he fooling himself as to what he was doing? Read it and judge for yourself. Interesting personality... Even with the blueprint, not everybody could do what Charles Ponzi did.
People interested in stocks or related investments might be into this since it will explain what MAY be happening to us right now. :)
People interested in stocks or related investments might be into this since it will explain what MAY be happening to us right now. :)
Feb 08, 2009
Sara
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I don't know, maybe this is actually good, but I got bored after about 50 pages and stopped reading. As with a lot of nonfiction, the style of writing made it seem like the author wanted to show off how much research he'd done rather than tell an interesting story.
Oct 06, 2010
Jean
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This book was such a good read. I really didn't know what to expect, you actually feel quite sorry for Ponzi in the end. He had such good intentions, but you know what they say about "good intentions".
From start to finish I just couldn't put this book down.
From start to finish I just couldn't put this book down.
Oct 09, 2011
Catheryn
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Irony is that people still fall for these schemes, the only difference was that Charles Ponzi really believed he could make it work! I was intrigued and impressed that he made 7 million at that time. The story makes me want to yell, "show me the money!"
May 11, 2009
David
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What could be more timely. I read this book to better understand the Madoff affair. These guys are such rogues. But the most enlightening part was to learn how they deceived themselves into thinking they could make it all come out even.........eventually!
Dec 30, 2010
David R.
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A riveting account of the rise and fall of the ultimate scammer. Zuckoff does a fine job of explaining how Ponzi's schemes worked (and didn't), the aggregation of forces against him, and even his oddly charming personality. One almost becomes sympathetic.
Jan 28, 2010
Amanda
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Listened to the audio book. Ponzi was an interesting figure and so was the depiction of the times. Well written in the vein of "Isaac's Storm" or "The Devil in the White City" although it doesn't go as far to interweave several stories.
Dec 31, 2010
Luigib
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Great book to an interesting subject. you always hear of "Ponzi schemes," but you never know where it came from. This book answers that and makes you think the Who should have sung, "We WILL get fooled again." Human nature.
Jan 05, 2012
Allison
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I loved this! I really had no idea all of the story behind the phrase "Ponzi scheme." The book was easy to follow, even through all of the more tricky financial "calculations" Ponzi was making. Also
Feb 13, 2009
Amanda
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One of the great truths of human existence is: Optimism + Greed = Suckers. But what sort of man could have the audacity to implement a swindle so outrageous that any Robbing-Peter-to-Pay-Paul investment con now bears his name? It was a pretty fun read, especially with all the Ponzi schemes that keep popping up in the news.
May 12, 2009
Sheel
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I read it a few years ago, before Ponzi schemes were all cool again... enjoyed learning about the guy, may re-read this one.
Feb 16, 2009
Carrie
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I always wondered what this thief was all about! Sad that people are still gullible enough today to be suckered into this kind of stuff.
Jun 27, 2010
Abdul
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This book is well written and easy to follow. Of you want a good book about Mr. Ponzi this is your book.
Jan 02, 2009
mayhem!
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A surprisingly fun read. Goes down easy with an almost playful writing style giving a sweet flavor to some careful research. Perhaps the most amazing thing about this story is how short Ponzi's run actually was.
Sep 15, 2009
Mary
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Very good book for anyone wondering about what a Ponzi scheme really is.
Feb 10, 2010
Steve
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If you've ever wondered what the original Ponzi Scheme was all about, this book details the man and the short-lived financial empire that he built.
Feb 05, 2009
MeredithY
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It's interesting to read about Boston in the 1920's; It's also interesting to learn that politicians were misbehaving then as now.
