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-- new book called ghosts of Manhattan is pulling back the curtain on Wall Street in the days before the financial collapse.
Showing the excesses of living large before -- came tumbling down.
The novel is earning rave reviews being compared to the works of Charles -- and Tom Wolfe.
And joining me now Douglas -- author of ghost of Manhattan and -- how and how you doing Dave I'm -- great irony if you know you feel nervous.
Nervous panicked when just.
-- here you see it from the lyric out to the -- that's right all right so let's talk about this but I'm very proud of you -- it I wanna talk about this because I think our viewers knew a lot about sort of -- the risks that were taken on Wall Street -- -- financial collapse and we knew that they ate it -- too much and they made too much.
But what this book lays out is that this wasn't just a professional choice this is an entire lifestyle.
-- -- -- It is a lifestyle that really it's sort of consumes your whole life and business on Wall Street.
Is it's a relationship driven business and so it's not as though these guys work for Sony -- apple where they're selling iphones and things are sold based on.
Product differentiation -- selling.
Bonds that exact same everybody a lot of golf on same -- it's a commodities -- do business with the people.
-- you know we have a relationship that the only advantage of that -- selling it is your relationship with the person on the other side and the relationships are formed out of the office so it's very high priced.
You know these guys again -- it's not like selling software appliances where your year end bonuses in the tens of thousands if you're 35 year old guys and selling bonds that.
At Bear Stearns -- -- bonuses two million dollars or five million dollars and so when they go out it's not.
Dinner at TGI Friday's no offensive to Friday on it economical.
The big talk a -- delicious that.
But it's like I'm getting there is -- lap dances with scores it's 5000 but this campaign now that -- -- paying ports on expense account anyway but it's just a very high end lifestyle and -- Wall Street banks actually they have no problems.
Cutting these huge checks for these enormous dinners and trips to nefarious locations.
Because it's all about developing a relationship -- -- got and that's on the money throwing hands of these things are more than paid for because you know the next -- do what you trades in and big.
Treating these women they write the book a lot about these you know these let's -- prostitutes strippers drugs.
How do we know these people.
FIDs and let me know -- -- -- your house.
Everything's -- removed from us and but yeah -- I know a number of people who were on Wall Street and all different areas of Austria people who have.
Founded and run large hedge funds and people who are.
Sales in sales and trading on Wall Street now where you know what to dinner and to be friends from college in the sixth maybe three to work on Wall Street three who don't.
The three who don't are sitting there with -- jaws on the table.
Listening to stories from the previous two weeks and it's not even a best out it's just the last two weeks -- and in in two weeks later be another set of similar stories.
Now that there's something else in the -- the people mean about that is a ninety's blonde reporter we need to get this on the record right now.
This person bears no relation to any when you may know no none right.
And you may or CNBC reporters that's not even Fox Business person or Fox News Channel person all fictional -- -- financial correspondent.
Totally unrelated a pick and I just wanna get that out there right now.
There is something in the book that I'm in it's it's a truly beautiful story because is about really against this Wall Street lifestyle factor backdrop.
It's the story of one man's struggle deceived his soul.
To change his life.
It's someone who's very unhappy with his circumstances when you're 22 and start a job like this I think this is great -- -- -- on the money on partying all night and and it seems like a -- of fun but when you get older.
As for any person in any career you hopefully migrate to your passions.
And but for most people doesn't sound too easy doesn't happens organically you need to sort of get to a point in your life where you.
Reflect and realize I need to make a break and take a week and that can be very scary you know in this case.
The guys selling bonds and he is making a ton of money and then of course has the lifestyle creep that comes when you wreck or get it all the handcuffs and those I can't make this kind of -- doing sales and -- to do -- sell bonds.
So but it's it's something that everyone experiences when they want to make the change in -- -- for me I mean it changed from a job that -- -- of and you do the same you know you were lawyer working hundred hour weeks.
And you were exceptional -- remember going to dinner with the -- from Jones day who said to me.
That it doesn't matter how good she becomes as a journalist shall never -- he has good she was.
-- -- -- Now he was wrong business that -- -- -- about you well if you are a bastard you got -- about it as it turns out years later because you are the best journalists and anyone.
Where it can expect.
And -- were watching at home knows that you are the best that really worked out.
For you -- in this case with his character he's trying to break away and make that kind of change it takes a lot of courage.
As you know it as I -- to do something like that right if it.
Lot of well you have to look internally for a long time and find -- -- but you wrote this book on planes.
At our dining room table.
And most of it while -- on that which -- I was on materially from our first child so there's a lot of you know let's -- -- you put that he rode it out longhand on long sort of legal pads.
And then I had the first week.
Which I have to tell the viewers with terrifying because I had no idea whether -- -- -- When -- married and -- -- a CEO of the company so I'm he's watching he's writing -- he's writing and I normally get the first treatment Amazon -- sixteenth let me say as I said honey.
When I read his book do you want the truth or do you have any feel good he's I want the truth and I -- -- the truth is it's awesome.
It's really great and I'm so proud -- -- beta called ghost of Manhattan is getting rave reviews publishes weekly calls it compulsively readable.
And it's one more question for you which is who is watching her children back after -- after -- expect that at.
They're good hands and earned him his parents -- and -- good luck and thank you.
I -- expect go to Manhattan check it out now on Amazon.com.
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