By Patricia Beard
After the Ball is that infrequent precise tale that reads like an epic novel, a sweeping chronicle of an period, and an intimate account of the wish and betrayal of a son whose father gave him every little thing -- other than the educational to discover his approach in territory governed via the rapacious.
James Hazen Hyde used to be twenty-three in 1899 while he inherited the bulk stocks within the billion-dollar Equitable existence insurance Society. basically 5 years later, he fell from grace in a Wall road scandal that obsessed the state and commanded a hundred and fifteen front-page articles within the New York Times.
Hyde was once clever, cultured, and bold, yet he used to be no fit for an older new release that had mapped the backstreets of excessive finance. Vying to regulate the Equitable's titanic funding pool, the main recognized financiers and industrialists of the period -- between them E. H. Harriman, Henry Clay Frick, and J. P. Morgan -- placed Hyde on forty-eight forums and integrated him in bargains that shook Wall road. after which, on the top of social luck, he made a deadly miscalculation.
On the final evening of January 1905, James Hyde held a fabulously flamboyant, eighteenth-century, Versailles-themed gown ball. His enemies used the celebration because the hook to hold him on, claiming that he was once too frivolous to run an organization devoted to holding widows and orphans; and unfold the rumor that he had spent 2 hundred thousand money of Equitable funds on a night's leisure. by the point a central authority research validated that Hyde had paid the debts himself, his recognition was once ruined.
The sour crusade to wrest keep watch over of the Equitable and its colossal funding ability from Hyde at the heels of the ball. because the struggle escalated, clandestine alliances among insurers and Wall road burst to the outside, exposing innovations which are the stuff of twenty-first-century scandals: self-dealing, insider buying and selling, accounting malpractice, and company investment of non-public pleasures.
After the Ball tells a story that riveted hundreds of thousands of usa citizens a century in the past. Its issues are as clean this day as they have been in 1905: greed and chicanery, the improper love among fathers and sons, and contradictory American attitudes approximately wealth -- all unfolding opposed to a environment of beauty, extra, and corrupting glamour.
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