East Stroudsburg, PA (PRWEB) October 29, 2013
Meant as an introductory reading on the wiles of the most recognized names in high finance, Winston Overtons minces no words and pulls no punches in exposing what is rotten at the heart of Wall Street Institutions in "Wall Street Scandals." Overton, an insider who worked on the trading floor since the ‘70s, presents the mechanics of greed that provides motivation for financial institutions’ reason for being. Eye-opening and educational, this book gives broad coverage on the whys and wherefores of this bastion of the imminent demise of capitalism. It is in answer to the need for the public to be informed about the imbalances that brought about the failing economy and consequent protests such as the Occupy Wall Street movement.
First off, the history of the Capital Trading Exchange is discussed, from legal battles and prosecution of financial criminals, the historical forces that gave birth to it, shaped it, and propelled it, along with many financial institutions, into becoming a seemingly invincible monolith. Overton ably fulfills the promise of his book’s title. In the process, readers are given a compelling account of documented shady business practices, made to realize the lack of adequate oversight of Stock Exchanges and assists them (as investors) to navigate the scam-filled path of Wall Street investing. World-wide investors can use Overton’s work as cautionary guide as well as a learning tool for conducting business.
Greed seems to have become axiomatic in the capitalist world when and where large amounts of money and men meet. Overton finds this all too true and readers will have their fill of details on illicit trading in mega-corporations and financial chambers of New York. He concentrates on the stories of a nucleus of unscrupulous and unconscionably disgraced officials — an awesome display of excess and bloated egos. Susan Shapiro in her book "Wayward Capitalists" (1984) advises, "People, who have too little faith in their potential or business acumen to attempt a business venture on their own, turn their money over to complete strangers to do that very thing." This is key to the seemingly unstoppable magnetism of Wall Street. From junk bonds to Ponzi schemes, it has promised riches to many innocent sheep only to fleece them. "Wall Street Scandals" strikes a very strong blow that might finally start the demolition of Wall Street’s respective façade, start the clean-up of its rotten insides, and lay the foundations of the new day of financial sanity.
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About the Author
Winston Overton was born in Georgetown, British Guiana, now officially known as The Cooperative Republic of Guyana. He is the eldest child of the late Randolph Overton and Nova Eslyn Overton. He is followed by brother Aubrey Overton of Georgetown and a sister – the late Sgt. Shirley Overton-Campbell of New Amsterdam, Police Station, Guyana. His dad also fathered other younger siblings in Wismar, Guyana. He boasts of having had the best grandmother one could ever have asked for – Mrs. Miriam Waldron. His late mother was his Queen of Hearts and often boasted that she had the best mother-in-law in Miriam Waldron one could ever have asked for. The author was a former employee in the drawing offices of the Hydrographic and Sea Defense Department of the Ministry of Works and Hydraulics in Kingston and the Geological Survey Department in Brickdam – all in his home country. He was also as a contract cartographer with the government of the Republic of Zambia, Central Africa – a country he is proud to call his second home. At the end of that contract, he travelled extensively throughout Africa and Europe before migrating to the United States. He worked at Chase Manhattan Bank and Manufacturers Hanover Trust Bank in the late 1970’s before joining the staff of the American Stock Exchange, finally retiring in 2002. Overton was also a volunteer Mediator with the "Unified Court System of New York City" for thirteen years, and is an accomplished Interior Decorator.
Wall Street Scandals * by Winston Overton
Greed and Trading on Wall Street the American Way
Trade Paperback; $19.99; 166 pages; 978-1-4797-7249-0
Trade Hardback; $24.99; 166 pages; 978-1-4797-7250-6
eBook; $3.99; 978-1-4797-7251-3
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