La Petite Américaine's Reviews > The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble, and Bust

The High-Beta Rich by Robert Frank

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59329
's review
Nov 24, 11

bookshelves: meh-whatever
Read in November, 2011

I'll admit it: I bought this book for the schadenfreude. I skimmed over the financial stats and took particular glee in reading about people going from billionaire to bankrupt overnight in the 2008 financial crisis. My favorite examples? A toss-up between the former billionaire who could no longer pay her phone bill and had to learn to do her own dishes, and the wife of a guy who when from $8 billion to $100 million overnight, who then had to cope with the "trauma" of flying commercial after they sold their private jets. Then there's the story of the repo man who has to travel with a former pro-wrestler when he takes back the toys of the ex-rich: jets, yachts, and sports cars. Oh yeah, then there's the chick who went so broke that the coral in her special tropical fish tank got repossessed. Oh, and the single tear that slid down the face of a woman who, with her husband, was building the largest house in America until they ran out of money. HAHAHAHAHA!!! LOVE IT.

Basically, the whole book is about these stupid people who are no better than you and me: they're rich on paper and they don't really own anything. Heh. Makes me feel a little less guilty about having charged the book. ;)

My one complaint are the five typos and numerous grammatical errors that I found, likely because this book was rushed into publication before the ex-nouveau riche could climb out of their financial holes and find money again. But what the hell? I'm willing to overlook the occasional typo if it means entertainment found in the financial ruin of the excessively wealthy.

:-D

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message 1: by Jason (new)

Jason Your review reminded me of Tom Wolfe's "A Man in Full" which dealt with this exact issue via the obnoxious Atlanta businessman Charles Croker. I read with relish the passages where Charlie is confronted with the bank's "breakdown artist" and forced to give up his beloved plantation, Creosote.


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