By A. Craig Copetas
Marc wealthy -- the main sought after white-collar legal in the USA -- used to be probably the most winning steel investors on this planet. earlier than there has been Michael Milken or Ivan Boesky, wealthy rose during the ranks to accumulate a multibillion greenback fortune within the halcyon days of high-flying commodities buying and selling. yet he did it by way of slicing corners and pulling the wool over the eyes of his opponents. finally his businesses pleaded in charge to 38 counts of tax evasion, paying $90 million in fines. wealthy fled to Switzerland, the place he confronted a possible penitentiary time period of over three hundred years if he ever again to the USA. it is a tale of greed, corruption, and cash long gone wild, in actually astronomical proportions. Posing as a commodities dealer, A. Craig Copetas is going backstage to offer us a riveting, true-to-life portrait of Rich's corrupt international and his remarkable break out from the legislations.
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Additional info for Metal Men: How Marc Rich Defrauded the Country, Evaded the Law, and Became the World's Most Sought-After Corporate Criminal
The kudos did little to fire Rich’s personality or endear him to fellow students. “Marc never had many friends,” remembered one of his classmates at Rhodes. ” The evaluation of Marc Rich—earnest, conscientious, and essentially dull—was not a result of Rhodes training, but an immutable product of being the only child in the household of David Rich. His life was different, punctuated with German, a relentless language of command, the language of the trader. “I always had the impression that no matter how much his father loved him, the relationship was more along the lines of master and apprentice than father and son,” explained a New York City jewelry dealer who knew the family.
Where a metal man ends up hinges largely on how much risk he decides to take, how much bilious panic he wishes to create. The lessons to the modern trader are: On the one hand, consider any trick to control a commodity and, on the other hand, make sure you can get away with it. ” Diminishing marginal utility has a way of popping up in times of great commercial prosperity. In good times, people have a tendency to overspeculate on what the market has to offer. They take exaggerated chances, do everything possible to be in on a quick-kill scheme—and metal dealing is guerrilla economics of the highest order: behind-the-lines business, in and out.
Craig Copetas—Metal Men [e-reads] Seasons. “I must tell you that no one wants to believe it’s a scam,” Lee explained while fondling a Valentine chocolate bar fashioned to resemble a bar of Crédit Suisse gold bullion. “These things happen all the time, and the result is always the same. A few people are going to go home tonight with a great deal of money, and a lot of people are going to visit a bar to drink away all the losses. M. GMT, and Dapper Doug Lee sauntered past the pub on his corner and drove his metallic gray BMW to Harrods.