A “spellbinding account” of Wall Street deregulation in the 1980s, based on a Pulitzer Prize–winning Washington Post series (The New York Times Book Review).
Described by the New York Times Book Review as “worthy of being on the same shelf” as Liar’s Poker, Greed and Glory on Wall Street, and Barbarians at the Gate, this eye-opening business history explains how Washington and Wall Street cut the deals that led to a decade of greed.
For the Securities and Exchange Commission, the 1980s brought sweeping changes. Under the sway of Reaganomics and the leadership of John Shad, the SEC came down hard on insider trading but introduced wide-ranging deregulation to the stock market, which helped to both fuel the legendary bull market and sow the seeds of the 1987 crash.
Shad, a former vice-chairman of the brokerage firm EF Hutton & Company and the first Wall Street executive to lead the SEC since Joseph Kennedy, was a true believer in the free market. His tenure touched all the big headlines and enduring images of this tumultuous decade, from leveraged buyouts to junk bonds, Manhattan skyscrapers to Senate hearing rooms, Michael Milken to T. Boone Pickens.
David A. Vise and Steve Coll won the Pulitzer Prize for the original reporting in the Washington Post that would become Eagle on the Street. In an era when the costs, benefits, and risks of deregulation are under debate once again, their “engrossing account of the struggle for the soul of the SEC” is essential reading (The Washington Post).
“Greed and Glory on Wall Street . . . Bonfire of the Vanities . . . Barbarians at the Gate . . . Liar’s Poker . . . Now comes a fifth book worthy of being on the same shelf: Eagle on the Street, a spellbinding account of a decade of mergers, junk bonds, and insider trading scandals . . . The beauty of [the authors’] intriguing story is that many will relish the book even while coming to different conclusions.” —The New York Times Book Review
“[A] well-told tale of a decent man picked for an unsuitable job . . . a story of surpassing importance.” —The Washington Post
“Well worth reading.” —Martin Mayer, author of The Bankers
Steve Coll is a staff writer at the New Yorker, the dean of the Columbia Journalism School, and the bestselling author of seven books. Previously he served as president of the New America Foundation and worked for two decades at the Washington Post, where he won the Pulitzer Prize for Explanatory Journalism for a four-part series on the Securities and Exchange Commission during Ronald Reagan’s presidency. The award-winning series became the basis for Eagle on the Street (1991), coauthored with David A. Vise. Coll’s other books include New York Times Notable Book The Deal of the Century (1998); Ghost Wars (2004), winner of the Pulitzer Prize for General Nonfiction; The Bin Ladens (2009), winner of the PEN/John Kenneth Galbraith Award for Nonfiction; and Private Empire (2012), winner of the Financial Times and McKinsey Business Book of the Year Award.
David A. Vise is the bestselling author of four books. He spent over twenty years at the Washington Post, where he won the Pulitzer Prize for Explanatory Journalism for a four-part series on the Securities and Exchange Commission during Ronald Reagan’s presidency. The award-winning series became the basis for Eagle on the Street (1991), coauthored with Steve Coll. Vise’s other books include New York Times bestseller The Bureau and the Mole (2001) and national bestseller The Google Story (2005), which was published in more than two dozen languages. He currently serves as a senior advisor to New Mountain Capital, a New York–based private equity firm.