Stock Shock: The Short Selling of the American Dream

In the good old days of boom and bubble, Sirius Satellite Radio—best known as the new home of Howard Stern, loads of sports coverage, and commercial-free music—was touted on Wall Street as the next big thing. The company acquired a near-cult following, with investors pouring money into its stock, resulting in a price that continually vaulted upward. But in the aftermath of merger problems, accusations of market manipulation, and massive short selling, the stock sank to less than a dollar per share. Sandra Mohr directs this timely look at a financial meltdown that left hordes of angry investors claiming that the company evinced a “total disdain for shareholders” while executives gamed the system and lived high on investor money. Other complaints focus on the perceived indifference of regulators—particularly the Securities and Exchange Commission—and a lack of media coverage, resulting from cozy relationships among communications giants. The debacle ultimately took a personal toll on some, with dire consequences including divorce and even death threats. Stock Shock does a good job of explaining complex terms and concepts while also wringing a bit of drama from a potentially dry subject. A good example of a specific instance of fallout from a toxic Wall Street culture, this is recommended Aud: C, P. (S. Rees)