The Wall Street Jungle

Editorial Review - Kirkus Reviews To the Who Rules America? audience it comes as no surprise that the stock market is subject to manipulation, but Ney's The Wall Street Jungle (1969) shook up the financial press and the small investor and here he goes again with another surgical ""insider's"" job -- he is a securities adviser himself. The Stock Exchange is not a free market but a controller of shares, not least through such directly owned but little known subsidiaries as ""Cede & Co."" Ney boisterously ranges from the brokerage houses' crimes -- ""churning"" stocks for maximum commissions -- to major short-sale conspiracies to the basic interlock among major corporations, investment bankers, and local off-rippers of widows and children. Remember that supply and demand do not prevail on the securities exchanges; but Ney can help you beat the manipulators at their own game, and he tells how to sue the characters the SEC does nothing to protect you from, or indeed sue the Stock Exchange itself. Ney insists that market flux has nothing to do with basic economic conditions -- true, up to a point. What would Ney advise for Alexander Paris' The Coming Credit Crunch (KR, p. 465)? Meanwhile, liquidity permitting, a probable best-seller like its predecessor.