Summer Reading Sale
 
 

Recently Viewed clear list


The Powell's Playlist | June 18, 2014

Daniel H. Wilson: IMG The Powell’s Playlist: Daniel H. Wilson



Like many writers, I'm constantly haunting coffee shops with a laptop out and my headphones on. I listen to a lot of music while I write, and songs... Continue »

spacer
Qualifying orders ship free.
$19.50
Used Hardcover
Ships in 1 to 3 days
Add to Wishlist
Qty Store Section
1 Burnside International Studies- Oil Politics
2 Local Warehouse International Studies- Oil Politics

This title in other editions

The Asylum: The Renegades Who Hijacked the World's Oil Market

by

The Asylum: The Renegades Who Hijacked the World's Oil Market Cover

 

Synopses & Reviews

Publisher Comments:

They were a band of outsiders unable to get jobs with New York's gilded financial establishment. They would go on to corner 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. 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 jacked up oil prices to nearly $150 a barrel 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 Nymex—led by the reluctant son of a producemerchant—went after this Goliath and won, creating the world's first free oil market and minting billions in the process. Their stunning journey from poverty to prosperity belies the brutal and violent history that is their legacy.

For the first time, The Asylum unmasks the oil market's self-described "inmates" in all their unscripted and dysfunctional glory: the happily married father from Long Island whose lust for money and power was exceeded only by his taste for cruel pranks; the Italian kung fu-fighting gasoline trader whose ferocity in the trading pits earned him countless millions; the cheerful Nazi hunter who traded quietly by day and ambushed Nazi sympathizers by night; and the Irish-born femme fatale who outsmarted all but one of the exchange's chairmen—the Hungarian emigre who, try as he might, could do nothing to rein in the oil market's unruly inhabitants.

From the treacherous boardroom schemes to the hookers and blow of the trading pits; from the repeat terrorist attacks and FBI stings to the grand alliances and outrageous fortunes that brought the global economy to the brink, The Asylum ventures deep into the belly of the beast, revealing how raw ambition and the endless quest for wealth can change the very nature of both man and market.

Showcasing seven years of research and hundreds of hours of interviews, Leah McGrath Goodman reveals what really happened behind the scenes as oil prices topped out and what choice the traders ultimately made when forced to choose between their longtime brotherhood and their precious oil monopoly.

Review:

"What should be a quasi-public utility — the market exchange where oil and gas are traded — is actually a madhouse of vice, vendettas, and corrupt crypto-capitalism, according to this breathless account of the New York Mercantile Exchange. Finance journalist Goodman traces NYMEX's transformation since the 1960s from an obscure market specializing in potato futures to a colossus with a stranglehold on the sale of the world's energy. Goodman explores the lurid culture of NYMEX traders, scruffy hustlers who shriek and swear and pummel each other over deals, and bring guns, drugs, and hookers right into the trading pit. It's an entertaining scene, but Goodman's account is hobbled by the strictures of the business epic, which require her to devote inordinate space to NYMEX's boardroom politics and the posturing of its chairmen. This is one of the year's most colorful business histories, but the larger importance of NYMEX remains elusive; the author paints it sometimes as a force for price transparency and stability, sometimes as a dangerously ill-regulated cesspool of speculative scams and occult market manipulations that are more insinuated than demonstrated. Photos. (Mar.)" Publishers Weekly (Copyright PWyxz LLC)

Synopsis:

The Asylum is a stunning exposé by a seasoned Wall Street journalist that once and for all reveals the truth behind Americas oil addiction in all its unscripted and dysfunctional glory.

In the tradition of Too Big to Fail and Liars Poker, author Leah McGrath Goodman tells the amazing-but-true story of a band of struggling, hardscrabble traders who, after enduring decades of scorn from New Yorks stuffy financial establishment, overcame more than a century of failure, infighting, and brinksmanship to build the worlds reigning oil empire—entirely by accident.

About the Author

An award-winning journalist, Leah McGrath Goodman has written for Forbes, the Wall Street Journal, Barron's, the Financial Times, and the Guardian in New York and London. She currently resides in Boulder, where she is a Ted Scripps fellow at the University of Colorado.

Product Details

ISBN:
9780061766275
Subtitle:
The Renegades Who Hijacked the World's Oil Market
Author:
Goodman, Leah Mcgrath
Author:
Goodman, Leah McGrath
Publisher:
William Morrow
Subject:
Stockbrokers -- United States.
Subject:
Petroleum products -- Prices.
Subject:
Economics - General
Subject:
Investments & Securities - General
Subject:
Business-History and Biography
Edition Description:
Hardcover
Publication Date:
20110215
Binding:
Hardback
Grade Level:
General/trade
Language:
English
Pages:
416
Dimensions:
9 x 6 x 1.29 in 20.8 oz

Other books you might like

  1. Animal Spirits: How Human Psychology...
    Used Hardcover $4.50
  2. The Art of Turned Bowls: Designing... Used Trade Paper $12.95
  3. Daring Young Men: The Heroism and... Used Hardcover $4.95

Related Subjects

Business » General
Business » History and Biographies
Business » Investing
Business » Investing » Futures
Business » Investing » Stocks
Business » Management
History and Social Science » Economics » General
History and Social Science » Politics » Politics of Oil

The Asylum: The Renegades Who Hijacked the World's Oil Market Used Hardcover
0 stars - 0 reviews
$19.50 In Stock
Product details 416 pages William Morrow & Company - English 9780061766275 Reviews:
"Publishers Weekly Review" by , "What should be a quasi-public utility — the market exchange where oil and gas are traded — is actually a madhouse of vice, vendettas, and corrupt crypto-capitalism, according to this breathless account of the New York Mercantile Exchange. Finance journalist Goodman traces NYMEX's transformation since the 1960s from an obscure market specializing in potato futures to a colossus with a stranglehold on the sale of the world's energy. Goodman explores the lurid culture of NYMEX traders, scruffy hustlers who shriek and swear and pummel each other over deals, and bring guns, drugs, and hookers right into the trading pit. It's an entertaining scene, but Goodman's account is hobbled by the strictures of the business epic, which require her to devote inordinate space to NYMEX's boardroom politics and the posturing of its chairmen. This is one of the year's most colorful business histories, but the larger importance of NYMEX remains elusive; the author paints it sometimes as a force for price transparency and stability, sometimes as a dangerously ill-regulated cesspool of speculative scams and occult market manipulations that are more insinuated than demonstrated. Photos. (Mar.)" Publishers Weekly (Copyright PWyxz LLC)
"Synopsis" by , The Asylum is a stunning exposé by a seasoned Wall Street journalist that once and for all reveals the truth behind Americas oil addiction in all its unscripted and dysfunctional glory.

In the tradition of Too Big to Fail and Liars Poker, author Leah McGrath Goodman tells the amazing-but-true story of a band of struggling, hardscrabble traders who, after enduring decades of scorn from New Yorks stuffy financial establishment, overcame more than a century of failure, infighting, and brinksmanship to build the worlds reigning oil empire—entirely by accident.

spacer
spacer
  • back to top
Follow us on...




Powell's City of Books is an independent bookstore in Portland, Oregon, that fills a whole city block with more than a million new, used, and out of print books. Shop those shelves — plus literally millions more books, DVDs, and gifts — here at Powells.com.