Ponzi's Scheme

This interesting, albeit undistinguished, production relates the life and times of dapper bunco artist Charles (Carlo) Ponzi, who in the nineteenth century invented the investment swindle that now bears his name. Grover Gardner does his wonted exemplary job with this fare. His tone is at once light--as befits the author's urbane and oft humorous prose--and detached--apropos of a biography of one who brought devastation down upon his many victims. Gardner's crisp timbre and impeccable diction are, as usual, a pleasure. Y.R. (c) AudioFile 2005, Portland, Maine

January 24, 2005
Before Charles Ponzi (1882–1949) sailed from Italy to the shores of America in 1903, his father assured him that the streets were really paved with gold—and that Ponzi would be able to get a piece. As journalist Zuckoff observes in this engaging and fast-paced biography, Ponzi learned as soon as he disembarked that though the streets were often cobblestone, he could still make a fortune in a culture caught in the throes of the Gilded Age. Zuckoff deftly chronicles Ponzi's mercurial rise and fall as he conjured up one get-rich-quick scheme after another. Charming, gregarious and popular, Ponzi devised and carried out the scheme that carries his name in 1920 in the open (and with a brief period of approval from Boston's newspapers and financial sector). Many investors did indeed double their investments, as Ponzi would use money of new investors to pay old investors, and Ponzi himself became a millionaire. Eventually, Zuckoff shows, the Boston Post
uncovered this "robbing Peter to pay Paul" system (as it was then known), and Ponzi's life unraveled. Zuckoff provides not only a definitive portrait of Ponzi's life but also insights into immigrant life and the social world of early 20th-century Boston.

June 15, 2006
Ponzis Scheme consists of three fascinating parallel stories. Charles Ponzi was a dapper, charismatic, debonair Italian immigrant who amassed $15 million by promising investors a 50 percent return on their money in 45 days. His rob Peter to pay Paul scam was exposed by theBoston Post in a Pulitzer Prizewinning report. The rise of thePost and its new second-generation editor, Richard Grozier, runs parallel to Ponzis rise and fall. The third story is the love and devotion of Ponzi and his loyal wife, Rose. Grover Gardner reads very well; his voice portrays both Ponzis confident bravado and Roses modest demeanor. Recommended for all audio collections.Ilka Gordon, Park Synagogue Lib., Pepper Pike, OH

Copyright 2006 Library Journal, LLC Used with permission.