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Brokers, Bagmen, and Moles Fraud and Corruption in the Chicago Futures Markets
ISBN: 0471530573     Date Published: 1991-06-17     Author(s): David Greising, Laurie Morse
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Hardcover
Wiley
337 Pages
 
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Editorial Review - Book Description:

At the Chicago Board of Trade and Chicago Mercantile Exchange, brokers and traders in a $70-billion world market trade in foreign currencies, and buy and sell options and contracts for future delivery of commodities (corn, soybeans, cattle, pork), even make speculative bets on a stock-market index. As prices gyrate, huge sums are won or lost on a quick hand gesture or shouted quote. These markets are nominally self-regulated in a benign atmosphere of congressional junkets and campaign contributions, according to this jarring expose by two Chicago journalists. But, they aver, clubby, unofficial "floor rules" foster illegal broker/trader profits through "dual trading," after-hours price adjustments and the like. All this came to light in early 1989 after a two-year FBI investigation; indictments, trials and appeals are still underway.
Copyright 1991 Reed Business Information, Inc.

From Library Journal
In documenting the two-year-long investigation begun in 1987 by the FBI, Greising, a correspondent for Business Week , and Morse, a reporter for Knight-Ridder Fi nancial News , provide an exciting account of a successful sting operation that took place in Chicago`s commodities and financial futures markets and that resulted in the indictments of 48 futures industry professionals. In addition to detailing this operation (which reads like a good mystery), the authors also discuss the history and operations of these markets, as well as the people who make them function, with particular regard to rules and regulations and how they are followed. Readable and revealing, this is a difficult book to put down. For general business collections.-- Steven J. Mayover, Free Lib. of Philadelphia Hamper, Ben. Rivethead: Tales from the Assembly Line.
Copyright 1991 Reed Business Information, Inc.
 
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Back Fill, December 16, 2012 ByBeau Cephus (El Jobean Florida) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Brokers, Bagmen, and Moles: Fraud and Corruption in the Chicago Futures Markets (Hardcover) Good stuff but way short of personal details. That would make it feel real. Just need more meat on the bones. Help other customers find the most helpful People found the following review helpful.

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