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Books > Business & Economics > Finance & accounting > Finance > Investment & securities
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The Asylum - Inside the Rise and Ruin of the Global Oil Market (Paperback)
Loot Price: R580
Discovery Miles 5 800
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The Asylum - Inside the Rise and Ruin of the Global Oil Market (Paperback)
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Loot Price R580
Discovery Miles 5 800
Expected to ship within 10 - 15 working days
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They were a band of outsiders unable to get jobs with New York's
gilded financial establishment. They would go on to build the
world's multitrillion-dollar oil market, reaping unimaginable
riches while bringing the economy to its knees. Meet the
self-anointed kings of the New York Mercantile Exchange, the place
where global oil prices are set to this day. In some ways, they are
everything you would expect them to be: a secretive, members-only
club of men and women who live lavish lifestyles; cavort with
politicians, strippers, and celebrities; and blissfully jack up oil
prices while profiting off the misery of the working class. In
other ways, they are nothing you can imagine: many come from
working-class families themselves. The progeny of Jewish, Irish,
and Italian immigrants who escaped war-torn Europe, they take pride
in flagrantly spurning Wall Street. Under the thumb of an
all-powerful international oil cartel, the energy market had long
eluded the grasp of America's hungry capitalists. Neither the oil
royalty of Houston nor the titans of Wall Street had ever succeeded
in fully wresting away control. But facing extinction, the
rough-and - tumble traders of this tribe-led by the reluctant son
of a produce merchant - went after Big Oil and won, creating the
world's first free oil market and minting billions across decades
of treachery and glory. Their stunning journey from poverty to
prosperity belies the brutal and violent history that is their
legacy. This is the real-life story both Washington and Wall Street
don't want you to read.
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