Max Frumes

Solid account of the slow-motion disaster that was the leveraged buyout of the gambling casino chain. The authors do a fairly good job of laying out precisely why the owners of the chain got into trouble with various complicated transactions, and how certain groups of creditors ordinarily punished in bankruptcy fought successfully to get a bigger settlement. Not too many people come off well in this account, alas.

Turns out debt investors and PE firms are all selfish and greedy and shouldn’t be trusted at all