Fool's Gold: The Making Of Global Market Fraud - Hardcover

Hutchinson, Brian

Hardcover

ISBN 10: 0676970982 ISBN 13: 9780676970982

Publisher: Knopf Canada, 1998

Synopsis

The Making of a Global Market Fraud and Why it Could Happen Again

Canada's wild new business frontier is the global mining industry and its players are among the best in the world - and sometimes the most corrupt.

This is an extraordinary tale of human exploitation, fraudulent financial practices, and a stock market collapse that led to the loss of billions, with - scandalously - no word of an inquiry, no serious calls for a re-evaluation of Canada's market practices, no reform to Canada's regulatory system and no justice for the ordinary investors who lost everything. And Canadian Business Senior Writer Brian Hutchinson shows how it could easily happen again.

The Canadian mining business is sick; the financial instruments used by many companies to raise money have been seriously abused; and an industry-wide conspiracy of silence culminated in the Bre-X debacle. Exploring deep into the industry's practices, Hutchinson provides the context to explain how and why the biggest fraud ever perpetrated by a Canadian company was allowed to happen. He was the first reporter on the scene in Indonesia in 1996 as the Bre-X story began to unfold, and now he pulls together all the strands of this complex and disturbing saga - combining his insider knowledge of the business world with direct access to the major players in Canada, the U.S., and Indonesia. This hard-hitting, brilliantly written account will be acclaimed as much for its storytelling power as for its business acumen.

About this title

About the Author

Brian Hutchinson has written for Saturday Night, The Financial Post and The Financial Times among others. He has been nominated four times for National Magazine Awards. A native of Calgary, he has covered the Canadian business scene for the last nine years. He has spent the last year investigating the Bre-X scandal, including two months in Indonesia. His book has been optioned by Alliance Communications Corp.

From the Inside Flap

f a Global Market Fraud and Why it Could Happen Again<br><br>Canada's wild new business frontier is the global mining industry and its players are among the best in the world - and sometimes the most corrupt.<br><br>This is an extraordinary tale of human exploitation, fraudulent financial practices, and a stock market collapse that led to the loss of billions, with - scandalously - no word of an inquiry, no serious calls for a re-evaluation of Canada's market practices, no reform to Canada's regulatory system and no justice for the ordinary investors who lost everything. And Canadian Business Senior Writer Brian Hutchinson shows how it could easily happen again.<br><br>The Canadian mining business is sick; the financial instruments used by many companies to raise money have been seriously abused; and an industry-wide conspiracy of silence culminated in the Bre-X debacle. Exploring deep into the industry's practices, Hutchinson provides the context to explain how and why the biggest f

Edition details

• Publisher: Knopf Canada
• Publication date: 1998
• Language: English
• ISBN 10: 0676970982
• ISBN 13: 9780676970982
• Binding: Hardcover
• Edition number: 1
• Number of pages: 266