Someone Else's Money

This novel works as a financial thriller and as satirical literary fiction -- almost a latter-day version of Mark Twain's THE GILDED AGE or Dickens' LITTLE DORRIT. The plot: A conservative Texas billionaire uses his fortune to redress the moral wrongs of American society. The method he chooses is to create an imaginary company and convince a gaggle of New York investors and institutions to put their money in it, ruining them and sending shock waves through the economy. This may have seemed like a far-fetched premise in 1982... but post-Enron, the only surprising thing is Michael Thomas isn't still gloating about his clairvoyance. Part of the reason might be that SOMEONE ELSE'S MONEY is out of print, which is a tragedy. As a thriller, it's dated, but as satire it's timeless. And the book's targets - supply-side Republicans, corporate greed, New York socialites, self-help scams - have not gone away either. A pop-fiction BONFIRE OF THE VANITIES, Michael Thomas' novel is ambitious and malicious, wistful and spiteful, with memorable characters. Thomas was both a former Wall Streeter and Metropolitan Museum art curator, and he is equally at home with financial fast-talk and the world of art. This novel is a tour-de-force and a rare example of a good writer laying aside his weaknesses. Thomas' next few novels were retreads, and he is now sidelined, with a sinecure as a New York Observer columnist. It would be nice to see him try one more time to spin a novel like this - or to see another writer take on business, art, politics, and love with the same success.