Scottish gambler and bon vivant John Law gained a reputation as a financial genius in France, where he promoted the Compagnie de la Louisiane ou d’Occident, also known as the Mississippi Company, to mine rich silver veins in the upper Mississippi valley, in present-day Illinois.

Unfortunately, the silver “discovery” was based on a fraudulent assay by French colonials. The collapse of the Mississippi Company led to a financial crisis in France.

For the complete story, read:

Millionaire: The Philanderer, Gambler, and Duelist Who Invented Modern Finance
     - by Janet Gleeson

2/15/07