Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff

Anexposéonthedelusion,greed,andarrogancethatledtoAmerica′screditcrisisThecollapseofAmerica′screditmarketsin2008isquitepossiblythebiggestfinancialdisasterinU.S.history.ConfidenceGame:HowaHedgeFundManagerCalledWallStreet′sBluffisthestoryofBillAckman′ssix–yearcampaigntowarnthatthe$2.5trillionbondinsurancebusinesswasacatastrophewaitingtohappen.BrandedafraudbytheWallStreetJournalandNewYorkTimes,andinvestigatedbyEliotSpitzerandtheSecuritiesandExchangeCommission,Ackmanlatermadehisinvestorsmorethan$1billionwhenbondinsurerskickedoffthecollapseofthecreditmarkets.UnravelsthestoryofthecreditcrisisthroughanengagingandhumandramaDrawsonunprecedentedaccesstooneofWallStreet′sbest–knowninvestorsShowshowexcessiveleverage,dangerousfinancialmodels,andablindrelianceontriple–AcreditratingssentWallStreetcareeningtowarddisasterConfidenceGameisarealworld"Emperor′sNewClothes,"ataleofwidespreaddelusion,andonedissentingvoiceintheeraleadinguptotheworstfinancialdisastersincetheGreatDepression.