Publishers Snapping Up Books About Financial Crisis
At the Frankfurt Book Fair publishers snapped up more books about the credit crisis.
Viking have signed the former stockbroker turned writer Seth Freedman for "an insider account of greed, corruption and excess in the City", due next April. A mix of memoir, reportage and interviews, Viking hopes it will reveal the extent to which risking millions every day can be addictive, as well as explaining the inner workings of the market from short selling to bonds swaps.
Editorial director Joel Rickett paid what he described as a "healthy five-figure sum" for the book, and has also swooped on the Wall Street Journal columnist Gregory Zuckerman's account of hedge fund supremo John Paulson's $15bn (£9bn) bet against the housing bubble. "Obviously every publisher is now scrambling for finance and business books - these are areas that have been under-served for many years," said Rickett.
Random House have also signed up the Dragon's Den entrepreneur Deborah Meaden, with a book of business advice and anecdotes due next April.
"We've definitely seen a lot of financial submissions coming through," said Headline deputy managing director Kerr MacRae, speaking at the Headline stand just before the day's deluge of meetings began. "We've made a couple of offers. They didn't go our way [but] we are updating our book City Boy: Beer and Loathing in the Square Mile, which has done really well – he's become the talking head for the City, and is writing a whole new chapter for us." Published earlier this year, this account of life in the City from the formerly anonymous newspaper columnist Geraint Anderson now looks eerily prescient.
Unfortunately, the current recession won't be ending anytime soon according to most financial experts. But we can read about how it all went wrong.