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License to Steal

by and

License to Steal Cover


Synopses & Reviews

Publisher Comments:

Stockbroker to young trainee: "Remember, when clients send in that money, it's not theirs anymore. It's ours...We're never giving it back to them."

Welcome to Wall Street. The longest bull market in history has driven more people to invest in stocks than ever before--and has given rise to unprecedented levels of greed within the brokerage industry that "serves" those investors.

In License to Steal, Timothy Harper and his Anonymous coauthor have succeeded in piercing the financial industry's code of silence. In a gripping and fast-paced narrative, they show readers how successful brokers on the "Street Without Shame" peddle worthless stocks, take questionable companies public, manipulate share prices, generate bogus commissions, and raid clients' accounts for their own use.

Anonymous and Harper tell a wild, raucous, true story of outrageous acts committed by a handful of rogue brokers--as well as the off-hand, everyday deceptions that are routine in the securities business--and the high life as it is lived by the young and rich in the canyons of Wall Street.

The book recounts the rise of a young, successful stockbroker, first as a smart, eager operator willing to do whatever it takes to make it. Always keeping just within the law, he watches his colleagues in the brokerage business cross over daily into unscrupulous conduct, lining their own pockets at the expense of their clients. Unwilling to join them, unable to endure the pressure of their corrupting influence, he eventually quits Wall Street.

A mesmerizing story of personal redemption, License to Steal is also a searing indictment of a corrupt and brutalizing system and a warning to the millions of American investors who trust and rely on stockbrokers for guidance on their own investments.


This account of Wall Street in the '90s offers a shocking tale of swindles, broken faith, cheated clients, drugs, gambling, and a culture whose bottom line is personal profit--not the needs of its clients.

About the Author

anonymous1. not named or identified 2. of unknown authorship or origin Anonymous has been a Wall Street senior vice president and broker. His career has taken him to numerous brokerage firms both large and small.

Timothy Harper, a journalist and a lawyer is a member of the adjunct faculty at Columbia University. His stories on international business appear in newspapers and magazines around the world. He is the author of eight other books, including, most recently, Moscow Madness.

Table of Contents

  1. ch. 1.Thursday night and Friday morning
  2. ch. 2.Conflict of interest
  3. ch. 3.Born broker
  4. ch. 4."Hello, I can make you rich..." --ch. 5.If a woman answers, hang up
  5. ch. 6.Bald shadow
  6. ch. 7.Hidden commissions
  7. ch. 8.It's our money now
  8. ch. 9.Tony Galoshes
  9. ch. 10.Bond play
  10. ch. 11.On the margin
  11. ch. 12.On the market
  12. ch. 13.First blood
  13. ch. 14.Smalltech
  14. ch. 15.50 percent broker
  15. ch. 16.New issue whores
  16. ch. 17.Alfred's deal
  17. ch. 18.Mr. Vice President
  18. ch. 19.Kid
  19. ch. 20.Wary buyers
  20. ch. 21.Dirty dozen
  21. ch. 22.Crossing, churning, parking
  22. ch. 23.Prep school
  23. ch. 24.Graduation
  24. ch. 25.Boutique firm
  25. ch. 26.Last deal.

Product Details

The Secret World of Wall Street Brokers and the Systematic Plundering of the American Investor
As Told to:
Harper, Timothy
Harper, Timothy
New York :
Investments & Securities - Stocks
Investments & Securities
Edition Number:
1st ed.
Edition Description:
Publication Date:
Grade Level:
9.56x6.59x1.00 in. 1.17 lbs.

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Related Subjects

Business » Investing
Business » Investing » Stocks

License to Steal Used Hardcover
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Product details 288 pages Harper Business - English 9780887309922 Reviews:
"Synopsis" by , This account of Wall Street in the '90s offers a shocking tale of swindles, broken faith, cheated clients, drugs, gambling, and a culture whose bottom line is personal profit--not the needs of its clients.
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