The Great Salad Oil Swindle (Baltimore, MD: Penguin Books, 1965) is a book by Wall Street Journal reporter Norman C. Miller about Tino De Angelis, a New York-based commodities trader who bought and sold vegetable oil futures contracts around the world. In 1962, De Angelis started a huge scam, attempting to corner the market for soybean oil, used in salad dressing. In the aftermath of the salad oil scandal, investors in 51 banks learned that he had bilked them out of about $175 million in total ($1.2 billion in year 2000 dollars). Miller won a Pulitzer Prize in 1964 for his reporting on the De Angelis story.
Famous quotes containing the words salad, oil and/or swindle:
“Whoever eats anything at a wedding luncheon? They make the food out of papier mâché. My salad had been used four or five times this week.”
—Peter Ruric, and Edgar G. Ulmer. Edgar G. Ulmer. Peter Alison (David Manners)
“Courage, determination, and hard work are all very nice, but not so nice as an oil well in the back yard.”
—Mason Cooley (b. 1927)
“If Uncle Sam should ever sell that tract for one cent per acre, he will swindle the purchaser outrageously.”
—State of Utah, U.S. public relief program (1935-1943)