The assault on the rand : Kevin Wakeford and the battle to save a currency / Barry Sergeant.

Format:

Book

Author/Creator:

Sergeant, Barry.

Contributor:

Phi Beta Kappa Library Trust Fund.

Language:

English

Subjects (All):

Wakeford, Kevin, 1962-.

Wakeford, Kevin.

Financial crises--South Africa.

Financial crises.

Currency crises--South Africa.

Currency crises.

Devaluation of currency--South Africa.

Devaluation of currency.

Foreign exchange rates--South Africa.

Foreign exchange rates.

Monetary policy--South Africa.

Monetary policy.

Banks and banking--Corrupt practices.

Banks and banking.

South Africa.

Physical Description:

xii, 291 pages ; 23 cm

Other Title:

Kevin Wakeford and the battle to save a currency.

Place of Publication:

Cape Town, South Africa : Zebra Press Random House Struik (Pty) Ltd, 2013.

Summary:

"When the rand collapsed from 7.60 to 13.84 to the US dollar in 2001, Kevin Wakeford blew the whistle, accusing three big corporates and one global bank of being party to manipulation in the currency markets. Wakeford predicted that the rand was on its way to 20, 30, 40 and possibly 50 to the dollar, which would have thrown the seven-year-old democracy into economic and political turmoil. As a result of his intervention, a Rand Commission was set up by President Mbeki to investigate his claims, and the rand's collapse was arrested and reversed. The Rand Commission was, however, shut down prematurely and Wakeford was fired as CEO of the South African Chamber of Business. While the Enron and WorldCom scandals in the United States triggered comprehensive corporate reform, it seemed that South African authorities were determined to cover up any wrongdoing. In The Assault on the Rand, Barry Sergeant tells the explosive story of the rand's collapse and the events that followed. He also explores more recent banking scandals around the world, giving a hard-hitting exposé of greed, collusion and manipulation in the markets."--Back cover.

Contents:

1 Wild horses in the markets 7

2 Horse-trading 43

3 The pale horse visits 65

4 The red horse 83

5 The black horse 127

6 The white horse 145

7 Riding side-saddle 175

8 The horses of hazard 195

9 Hooves of thunder 211.

Notes:

Includes bibliographical references and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the Phi Beta Kappa Library Trust Fund.

ISBN:

1770225544

9781770225541

OCLC:

859595319

Publisher Number:

99963389506