The Fall of the House of Hutton

"an engrossing and vividly documented account of the demise of a consequential brokerage house."

Though not as enjoyable reading as Mark Stevens's Sudden Death ( LJ 6/15/89), this does flesh out some of the more noteworthy aspects of the E.F. Hutton corporate scandal. Particularly clear explanation is given to the whole process of "check kiting," as practiced by Hutton, which began the financial giant's tortuous unraveling. In-depth examination is also afforded the congressional hearings about Hutton and Hutton's internal efforts to clean house. Written in diary fashion for the key days in the scenario (with Hutton stock closing prices for that day listed) and covering the story from its appearance (1981) to its conclusion/aftermath (1987-88, Hutton merging with Shearson Lehman), this is a broader treatment of the Hutton fall than most readers may want or need, but comprehensive business collections should purchase.
- David M. Turkalo, Social Law Lib., Boston
Copyright 1989 Reed Business Information, Inc.