2008 Woodie Awards
Manhattan Professor Publishes Sixteenth Book
Liz Harris
Issue date: 2/23/05 Section: Features
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"Undue Influence" is, as Dr. Geisst put it, "an in-depth look at the banking and security laws of the early 1930s and how they evolved and were repealed in the 1990s." The book explains the rise of the Wall Street elite and how laws such as the Glass-Steagal Act and the Securities Act of 1933 protected the U.S. financial system from Wall Street's influence. The book is aimed toward people interested in finance and the history of the 1930s.
"Undue Influence" is Dr. Geisst's sixteenth published work. He said, "It's a great feeling of satisfaction. You come up with an idea, and if it's viable and different, you pursue it. The purpose is to find and correctly interpret the story- that's the satisfaction in it. This book's twist isn't what happened, but how it happened." Dr. Geisst's other books include "Deals of the Century: Wall Street, Mergers and The Making of Modern America," "Wheels of Fortune: The History of Speculation from Scandal to Respectability," and two bestsellers- "Wall Street: A History" and "100 Years of Wall Street." Before teaching at Manhattan, Dr. Geisst worked as a capital markets analyst and investment banker and consulted for the Hudson Institute, J.P. Morgan Co., and S.G. Warburg Co. The media often requests his input regarding current financial issues; he has written articles for the Wall Street Journal, the International Herald Tribune, Newsday, and Euromoney. .
Critics also recognize Geisst's financial expertise. Publishers Weekly described "Undue Influence" as "engaging," and said, "Geisst provides a lucid guide to the financial issues involved and a colorful account of decades-long political debates and legislative wranglings, while raising troubling questions about the direction of public policy."
Dr. Geisst commented on the writing process. He said, "This one didn't take too long- only about a year and a half. The history is well-known, but the research was very time consuming." Research involved analysis of original documents, such as newspaper accounts and congressional records.
Dr. Geisst said, "New York City invented modern business. Finance courses are only offered through the school of business, but I think all students should be exposed. Every student at Manhattan College should take a course in basic corporate finance- regardless of their major. People are ignorant of finance, and we need to do something about it."