The Set-Up by Paul Erdman

by Paul Emil Erdman

Imprisoned unexpectedly by the Swiss police, former Chairman of the U.S. Federal Reserve Board Charlie Black and his wife agree to take part in an elaborate escape scheme, unwittingly launching the couple into the midst of those who had framed him.

Genres: Fiction, Thriller, Book Club

Mass Market Paperback

First published January 1, 1997

About the author

Paul Emil Erdman was one of the leading business and financial writers in the United States who became known for writing novels based on monetary trends and historical facts concerning complex matters of international finance.

Erdman was born in Ontario, Canada, to American parents. He graduated from Georgetown University’s Edmund A. Walsh School of Foreign Service. He received his PhD from the University of Basel (in Switzerland). In 1958 he worked as a financial analyst for the European Coal and Steel Community. Between 1959 and 1961, he worked as an economist at the Stanford Research Institute at Menlo Park.

Erdman returned to Switzerland where in 1965, he founded and was the president of a Swiss bank - the Salik Bank. In 1969, the United California Bank in California bought a majority stake and renamed it the United California Bank in Basel. The bank collapsed after taking large losses speculating in the cocoa market. Erdman and other board members were accused of fraud and Erdman spent time in jail awaiting trial.

While in jail, he wrote his first novel - The Billion Dollar Sure Thing (1973). It received a 1974 Edgar Award from the Mystery Writers of America for Best First Novel and was published in the UK as The Billion Dollar Killing. He was released on bail and fled from Switzerland. He was subsequently convicted in absentia. His second novel, the The Silver Bears (1974) was turned into a 1978 movie of the same name, starring Michael Caine. His books were well researched and contain convincing details. Despite the underlying complexity of his novels, his lucid writing style had enabled readers to learn complex concepts such as interest rate swaps, and his novels had often been bestsellers. The information in The Swiss Account is credited with providing a basis for helping track down the assets of Jewish victims of the holocaust.

Reviews

[Narayanan Kanagarajan]

When I gave a first read to this financial thriller last year this time, something inside my mind prodded me to go for it a second time sometime later. I had my wish fulfilled, having completed the book just now, thoroughly, without skimming. I really enjoyed the book right from the first page, when the protagonist of the novel, the Ex-Chairman of the Federal Reserve Board, Charles Black was arrested by the Swiss police at the Basel airport, much to his dismay on charges of embezzlement, (mis)using his high office to the last page where he and his charming wife, Sally were enjoying a dinner at a famous hotel in Sardinia, Italy, just behind an affluent Italian tycoon who was responsible for all the troubles Black had endured and got over successfully with his ingenious brain and in the company of his ever dependable wife, without knowing the identity of that tycoon! The plot was not weakly constructed as some of the readers felt in their reviews. The characterisation, the description of scenery or even an ordinary event enthralled me. The novel had a smooth take off and a perfect landing. The Alaskan episode in the end was quite interesting.

I derived full satisfaction.

[James · Rating 1 out of 5]

So bad so very very bad. Everyone is a stereotype, poor plotting, and unrealistic in the extreme.

[Henri Moreaux · Rating 4 out of 5]

The Set-Up is another excellent Erdman novel. In this tale the ex-chairman of the federal reserve, Charles Black, is on his way to attend a meeting at the international bank of settlements on a temporary basis standing in whilst a new chairman is appointed. Unfortunately for Charles, he is arrested at the airport upon entering Switzerland and held for insider trading & fraud - something he has not done.

Once more Erdman's intricate knowledge of the financial world is on display with a realistic portray of the fictional events and the manner in which they unfold.

Overall the book is very good, but I was a tad disappointed in the way it ended compared to his other books; that being said it's still a good book and worthwhile reading.

[Mehul · Rating 4 out of 5]

This financial thriller, while not overly suspenseful, still delivers the thrill. It's like a steady ride through the world of finance, with unexpected turns and intrigue. The plot, while not heart-pounding, keeps you engaged like watching a chess match of financial moves. The characters are like seasoned traders, each with their own strategies and hidden agendas. It's a page-turner, offering a unique blend of finance and intrigue, all against the backdrop of scenic Switzerland. If you're into finance or simply enjoy a captivating story with a touch of thrill, give it a go.

[Jim Eddy · Rating 3 out of 5]

This started out interesting. In the middle, it bogged down... I even put it down for a month or so. The last third of the book made it all worth it. If I run across another Erdman book, I'll pick it up.

[John Schmitt · Rating 4 out of 5]

Highly entertaining high stakes international financial thriller. A nonstop page turner that delivers suspense and intrigue from beginning to end. Don’t make plans for the weekend if you start it Friday night!

[Blake Hiatt · Rating 3 out of 5]

Decent financial thriller.

Upstanding citizen framed by dastardly criminals.

As an action adventure books, it's okay but, the characters are a bit thin and not well fleshed out.

Fun read, though.

[Lee · Rating 3 out of 5]

I got probably 150 pages or so into this book before I gave it up. The plot was good but all the information about derivatives and international funds transfers was way over the average layperson’s head, it was difficult to follow.

[Liedzeit Liedzeit · Rating 4 out of 5]

Charles Black wird von bösen Schweizern und geheimnisvollen Sardinier reingelegt. Zum Glück hat er eine gute Frau, und so wird alles gut. Verdientermaßen, da doch beide Mac-Anwender sind.

[Gayle Turner · Rating 5 out of 5]

Great read. I'm going to track down some more by this author.

[Bob Box · Rating 3 out of 5]

Read in 1997. Another excellent financial thriller.

[Ayce]

A very well written financial thriller. I really enjoyed it.

[Kerry · Rating 4 out of 5]

Slow to start but worth persevering with. Good storyline that ended well.

[Jen · Rating 4 out of 5]

This is the first Paul Erdman book I've read, and I'll definitely read another. Erdman seems to me to be for the financial thrillers what Tom Clancy is for the spy thrillers. The Set-Up depicts a former head of the Federal Reserve, who has been set-up to take the fall for using insider knowledge to make stock market gains of nearly $500 million. Erdman takes you through the financial world in an interesting manner, and ties up the ends neatly, without leaving you feeling like you missed something.

[February Four · Rating 3 out of 5]

This is the first Erdman book I've ever read. Not high literature, of course, but quite a deserving thriller. It was occasionally a lot of lecturing, though it's educational lecturing. I ended up skimming some of the lectures. I'm going to try more of his books, because there are so few high finance novels out there.

[Janyse · Rating 4 out of 5]

I enjoyed this financial thriller...from the title you get the gist that someone is "set-up" to take the fall for the white collar crime of embezzling. First needing to escape foreign powers, he then sets out to clear his name and find those who set him up. Fast read....

[Rebecca · Rating 3 out of 5]

This book was very John Grisham/Dan Brown-esque. The first half was way over my head with all of the financial jargon-a lot of it, but once I got through all of that I was very in to the story and was excited to see how the story turned out.

[Alejandro Teruel · Rating 1 out of 5]

Definitely not one of his better efforts. The financial angle is ok, if a little thin, the characters limp along, as does the plot which is very predictable. Lots of boring details about how to get from town A to town B and do we really have to know what the main characters had for every meal?

[Jeff Dickison · Rating 1 out of 5]

I rarely refuse to finish a book, but this one is an exception. I read 40% of it and it was excrutiatingly boring. All about high finance yadayadayada and gold diggers yadayadayada. And you very quickly know who the bad guys are. Not recommended!

[Francois · Rating 2 out of 5]

Very predictable story about the world of finance, Italian mafia, greed and sex. Light reading, nothing more. You won't learn anything about finance, the mafia or human nature. The good guy wins in the end.

[Danielle · Rating 4 out of 5]

Very good, suspenseful, fast paced book. I did ask myself, what would have I done if I was held in prison in a foreign country for a crime I didn't commit.

[Martha · Rating 4 out of 5]

thoroughly enjoyed financial details

[Patrick · Rating 3 out of 5]

Fun page turner, with lots of ugly details about the Swiss banking system, and the Swiss more generally. The plot is a little thin, but its still a good escape.

[Toesnorth's mom]

good

[Sheila · Rating 2 out of 5]

Didn't hold together for me (the infodumps. so many infodumps.) but more people should write international finance intrigue!

[Priyank · Rating 2 out of 5]

Expectations set by the earlier work, let down by this one. But on its own a ok read for long flights/commutes.

[ChrisGA · Rating 4 out of 5]

I didn't understand all the financial manipulation but this was a very good suspense tale of an innocent man being victim of massive frame up.

[Bethann · Rating 4 out of 5]

It kept me interested but it wasnt the best mystery novel I've ever read.