Funny Money

Funny Money From esteemed New Yorker writer Mark Singer comes this cautionary tale of the Penn Square Bank the oil and gas broker in an Oklahoma City shopping mall whose collapse in staggered America s bank

  • Title: Funny Money
  • Author: Mark Singer
  • ISBN: 9780618197279
  • Page: 389
  • Format: Paperback
  • From esteemed New Yorker writer Mark Singer comes this cautionary tale of the Penn Square Bank, the oil and gas broker in an Oklahoma City shopping mall whose collapse in 1982 staggered America s banking industry Recounting the whole spectacular story and its colorful characters, Singer makes brilliantly and hilariously clear what actually happened and why it had to hapFrom esteemed New Yorker writer Mark Singer comes this cautionary tale of the Penn Square Bank, the oil and gas broker in an Oklahoma City shopping mall whose collapse in 1982 staggered America s banking industry Recounting the whole spectacular story and its colorful characters, Singer makes brilliantly and hilariously clear what actually happened and why it had to happen in boom time Oklahoma Nowhere else did money flow in quite the same spontaneous fashion A tale of wonderful verve New York Times , Funny Money comes to life through Singer s vivid prose and continues to resonate in today s culture of corporate corruption.

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      Posted by:Mark Singer
      Published :2019-09-17T01:16:34+00:00

    About "Mark Singer"

    1. Mark Singer

      Mark Singer is a CERTIFIED FINANCIAL PLANNER professional and the author of The Changing Landscape of Retirement What You Don t Know Could Hurt You He has been The Retirement Guide to thousands of investors for close to 25 years and is the creator of the Retirement Roadmap and the Financial Organizer System, both of which contribute to a solution to investors greatest concerns properly coordinating their financial affairs These systems have become a primary resource for the people who have worked with Mark over the years.Mark is a frequent speaker at events in and around Boston, teaches for the non profit Heartland Institute as a Certified Financial Educator CFEd , and is the founder of the Greater Boston Corporate Wellness Forum He was the host of television s long running program Your Money Matters, as well as hosting Retirement Corner on WBOQ 104.9 FM and Retirement Strategies on WESX 1230 AM radio Mark also hosted Your Financial Future on Blogtalk Radio through the Diva Toolbox, where he shared his specific expertise in working with women on financial matters.Mark is a former columnist for the Money section of The Lynn Daily Item, a Boston area newspaper, and is a frequent contributor to various newspapers and other periodicals He has shared his expertise nationally in interviews and appearances with The Wall Street Journal, ABCNews, FoxNews, and Bloomberg Radio, as well as locally on NECN and WRKO.Mark is a past member of the Board of Directors of the Institute of Certified Financial Planning and of the International Society of Retirement Planning.Find Mark on Facebook at facebook YourRetirementJourney and LinkedIn at linkedin in marksinger1

    830 thoughts on “Funny Money”

    1. Hilarious and maddening nonfiction about Continental Illinois Bank, Penn Square and the many S&Ls that would regularly and repeatedly cold call any two landmen with a pickup truck between them, to loan them a minimum of a million dollars to set up a fancy office and to (maybe) drill for oil in the late '70s and '80s. The mania for financial deregulation during the Reagan administration accelerated this wild west, anything goes, culture that caused the collapse of many S&Ls, the need for [...]

    2. Mark Singer has given the real picture behind the bankruptcy of the Penn Square Bank, whose collapse in 1982 staggered America’s banking industry. It is still considered to be the biggest learning for the entire US banking industry. Crazy, un-believable, staggering are the few words which comes instantly to my mind after reading this booka must read for all those who are in anyway connected to banking industry.

    3. Even though it was written in the 1980's, its subject matter is entirely relevant to today's energy (and real estate) markets. Those who have no knowledge of Penn Square bank and its influence on the collapse of several other institutions will find this read enlightening--and I'll bet you a buck that you'll LOL at least a few times.

    4. About the oil and gas boom bust of the 70s 80s and its effect on some very large US banks, oddly, because of a very small Oklahoma bank called Penn Square.Essentially, the bank became a kind of broker, and the upstream banks lost their risk control in pursuit of growth - - all aided by a rosy picture of the oil and gas scene in the Texas to Oklahoma belt.Not as financially tuned as I would have liked too verbose for me, and too many side-winding stories.

    5. Wow. Sorry to say, one of the worst books I've read in a while. I work in banking and am really interested in the topic, but the storytelling was so boring that despite trying hard to plough through, I had to stop. Not recommended at all.

    6. So, I just finished reading Funny Money, by Mark Singer, and I am embarrassed to admit that I did a thing I almost never do, which is I read half of it and then didn’t finish it for several months.It wasn’t a bad book! It was, in fact, a pretty good book, but it appears it didn’t engage my attention quite enough to prevent me from being distracted by other things, because I am more easily distracted when I don’t entirely understand what I’m reading, and Funny Money is primarily about t [...]

    7. This was a solid, interesting book that really lost steam for me in the second half. It was interesting to hear of the type of environment that led to the oil boom in the 1970s, and the subsequent 1980s collapse. But once the collapse happens, the books just turns into a crushing play-by-play of how each guy managed his debt. I just can't bring myself to care too much about these white men who got unfair opportunities. But Singer does his best to make it entertaining.If you live in OKC and wonde [...]

    8. Not, of course, a funny book. Rather, yet another episode in that eternally saddening entertainment that is human folly, this time, once again, in the financial sector. Singer does not go deeply into the personalities of the main sources of malfeasance, but he provides plenty of anecdotes involving frat boy hijinks, old-boy banking networks, and workplace atmosphere at Penn Square Bank that you wonder how the thing was not shut down much sooner. The Feds come across as imprudently slow and toler [...]

    9. Chasing the dream always has the potential to be a roller-coaster and this is a curious tale of a bank which did just that - written in a fast-paced style which, were it not true, would make great fictionThis book makes a very readable story as you see the bank fall from grace and, like several corporate failures since, what is interesting is the social culture around it. The author doesn't go into too much detail about the financial complexities, but gives you enough to make the read (and ride) [...]

    10. Description of the early-1980s collapse of Penn Square Bank in Oklahoma City, partly as the result of the oil bust and partly as a result of unrestrained idiocy. Interesting to read, especially in light of our recent economic woes and banking irregularities. The author is an Oklahoma native and a New Yorker writer, so the prose is finely tuned and not (that) condescending. How many Ultrasuede jackets does one need? At least twenty-nine. What about airplanes? Well, owning three isn't necessarily [...]

    11. As a reporter, I love this book. The level of detail and information is unbelievable — at times I find it impossible to believe the level of access Singer had to the participants in the implosion of a bank in boom-years' era Oklahoma. This book is considered one of the high points of new journalism from the 1980s, and the storytelling is very good. That being said, there are more than a few points where I was lost in the milieu of characters, deals and details of how the upstream banking syste [...]

    12. A quick read about the natural gas boom in Oklahoma in the 70's and 80's, focused one one shopping mall bank, and how when left unwatched by regulators, it almost blew up itself and 5 other much larger banks. Midwesteners take note, this is the story behind the story of Continental Illinois (then the largest commercial lender in the country) and how it end up being forced onto some other big bank (I think BoA).The author has a casual style that helped keep the subject interesting.

    13. Good funny book about the oil and gas boom in Oklahoma in the early 80s. These guys were selling their lousy loans up the chain YEARS before mortgage backed securities started doing the same thing. Some of the talk of the oil business had me confused at times but the characters in the book were larger than life making it a fun and enjoyable read.

    14. Interesting and relevant given today's bank problems. Surprisingly, when you make bad loans from no documentation and sell them up the banking ladder, the dominoes keep falling (sarcasm). Some interesting parallels to today's economy.

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