Paul Erdman

Erdman was born in Stratford, Ontario, Canada, on 19 May 1932 to an American Lutheran minister and his wife.[http://www.sfgate.com/bayarea/article/Paul-Erdman-expert-economist-and-prolific-2600220.php Obituary: Paul Erdman -- expert economist and prolific writer San Francisco Chronicle April 24, 2007] He graduated from Concordia Seminary in 1954 receiving a bachelor of divinity degree, and from Georgetown University's School of Foreign Service. He was an assistant editor of the editorial page at the Washington Post and worked in a brokerage house in Washington. He received his PhD in economics, European history and theology from the University of Basel in Switzerland in 1958.{{cite news |last1=McLellan |first1=Dennis |title=Paul Erdman, 74; banker and economist known for writing financial thrillers |url=https://www.latimes.com/archives/la-xpm-2007-apr-27-me-erdman27-story.html |access-date=1 March 2023 |work=Los Angeles Times |date=27 April 2007}} 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 SRI International in Menlo Park, California.{{cite journal |title=Paul E. Erdman |journal=SRI Alumni Association Newsletter |date=August 2007 |url=https://srialumni.org/newsletters/2007/AlumNews-Aug-2007.pdf |access-date=2 March 2023 |quote=In 1954, Paul Erdman earned a BA from Concordia Seminary.}}

"the Swiss, who tried to block publication of his 1959 doctoral thesis at the University of Basel because it uncovered part of the story of Swiss banks and their Nazi clients."{{cite news |last1=Malkin |first1=Lawrence |title=Erdman's New Saga Targets an Old Nemesis - the Swiss |url=https://www.nytimes.com/1992/11/09/business/worldbusiness/IHT-erdmans-new-saga-targets-an-old-nemesis-the-swiss.html |access-date=2 March 2023 |work=The New York Times |agency=International Herald Tribune |date=9 November 1992}}{{cite news |last1=Olson |first1=Elizabeth |title=Book With Swastika Angers the Swiss |url=https://www.nytimes.com/2002/12/25/books/book-with-swastika-angers-the-swiss.html |access-date=2 March 2023 |work=The New York Times |date=25 December 2002}}

Charles E. Salik hired Erdman to help his tax-protected, Bermuda-based Electronics International Capital (EIC).{{cite news |last1=Potter |first1=Matt |title=Richard T. Silberman tapped Paul Erdman for offshore activity |url=https://www.sandiegoreader.com/news/2007/may/03/jailbirds/ |access-date=2 March 2023 |work=San Diego Reader |date=May 3, 2007 |language=en}} Salik and Richard Silberman were ousted from EIC by Jerome Kohlberg. Salik then launched Salik Bank, a Swiss bank, and hired Erdman as president, in 1965. In 1969, First Interstate Bancorp bought a majority stake and renamed it the United California Bank in Basel.{{cite journal | url=https://books.google.com/books?id=yOYCAAAAMBAJ&q=erdman+swiss+bank&pg=PA24 | title=How My Swiss Bank Blew $40 Million And Went Broke | first=Adam | last=Smith |author1-link=George Goodman |journal=New York Magazine | date=4 September 1972 | pages=23–32}} The bank collapsed after taking large losses speculating in the cocoa market.{{cite news |title=COCOA CORNER SEEN IN BASEL BANK LOSS |url=https://www.nytimes.com/1970/09/24/archives/cocoa-corner-seen-in-basel-bank-loss.html |access-date=2 March 2023 |work=The New York Times |date=24 September 1970}}{{cite news |title=Basel Bank's $30-Million Loss Attributed to Its Cocoa Trading |url=https://www.nytimes.com/1970/09/10/archives/basel-banks-30million-loss-attributed-to-its-cocoa-trading.html |access-date=2 March 2023 |work=The New York Times |date=September 10, 1970}}{{cite magazine |title=Banking: Scandal in Basel |url=https://content.time.com/time/magazine/article/0,9171,904378,00.html |access-date=2 March 2023 |magazine=Time |date=5 October 1970}} Erdman and other board members were accused of fraud and mismanagement. Erdman spent 10 months in solitary confinement without being charged before being released on a $133,000 bail bond in 1971.{{cite news|url=https://www.washingtonpost.com/archive/lifestyle/1979/10/23/paul-erdman-after-the-crash/b964c9dd-56e7-4d64-8815-859cfa83110d/|title=Paul Erdman, After the Crash|last=Allen|first=Henry|date=23 October 1979|newspaper=Washington Post|accessdate=25 January 2018}} Erdman skipped out on the bail and flew to England, later returning to the United States. Several officers of the bank were convicted and served prison terms. Erdman was convicted and given a sentence of nine years in absentia.{{cite news|url=https://www.nytimes.com/2007/04/25/obituaries/25erdman.html|title=Paul Erdman, 74, Author of Finance-Based Novels, Dies|last=Fox|first=Margalit|date=25 April 2007|work=New York Times|accessdate=25 January 2018}}

During his time in prison, Erdman occupied his time by writing, on an Olivetti typewriter,{{cite news |title=Financial fiction writer Paul Erdman dies - UPI.com |url=https://www.upi.com/Entertainment_News/2007/04/25/Financial-fiction-writer-Paul-Erdman-dies/48661177519375/ |access-date=2 March 2023 |work=UPI.com |language=en}} fiction, because he lacked research resources, including the first 60 pages of his novel, The Billion Dollar Sure Thing.[https://www.theguardian.com/news/2007/jun/08/guardianobituaries.booksobituaries Obituary: Paul Erdman - Economist and banker turned inventor of the 'fi-fi' thriller The Guardian June 8, 2007] 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. His second novel, The Silver Bears (1974) was turned into a 1978 movie of nearly the same name, starring Michael Caine. His best-selling novels are credited with the invention of the "financial thriller" genre. Additionally, the information in The Swiss Account is credited with providing a basis for helping track down the assets of Jewish victims of the Holocaust.[https://web.archive.org/web/20080708234237/http://www.timesonline.co.uk/tol/comment/obituaries/article1722875.ece Obituary: Paul Erdman - Banker, economist and writer who found fame by inventing a literary genre the financial thriller The Times April 30, 2007]

Erdman became a founding financial columnist for MarketWatch and regularly wrote financial columns.{{cite news |title=Former MarketWatch columnist Erdman dies |url=https://www.marketwatch.com/story/former-marketwatch-columnist-paul-erdman-dies |access-date=1 March 2023 |work=MarketWatch |archive-url=https://web.archive.org/web/20210918151322/https://www.marketwatch.com/story/former-marketwatch-columnist-paul-erdman-dies |archive-date=18 September 2021 |language=EN-US}}{{cite news |title=MetroActive Books {{!}} Paul Erdman |url=https://bohemian.com/papers/sonoma/09.10.98/lit-erdman2-9836.html |access-date=1 March 2023 |work=bohemian.com}}{{cite news |title=Paul Erdman |url=https://bohemian.com/paul-erdman-1/ |access-date=1 March 2023 |work=North Bay Bohemian |date=10 September 1998}}

Erdman also wrote The New York Times book reviews.{{cite news |last1=Erdman |first1=Paul |title=DIAMONDS ARE NOT FOREVER |url=https://www.nytimes.com/1982/06/20/books/diamonds-are-not-forever.html |access-date=2 March 2023 |work=The New York Times |date=20 June 1982 |quote=THE RISE AND FALL OF DIAMONDS The Shattering of a Brilliant Illusion. By Edward Jay Epstein.}}{{cite news |last1=Erdman |first1=Paul |title=ELDONOMICS CONQUERS ALL |url=https://www.nytimes.com/1985/07/07/books/eldonomics-conquers-all.html |access-date=2 March 2023 |work=The New York Times |date=7 July 1985 |quote=HARD MONEY By Michael M. Thomas.}}

Erdman also wrote newspaper articles on professional football.{{cite news |title=Economist Paul Erdman dies |url=https://www.montereyherald.com/2007/04/25/economist-paul-erdman-dies/ |access-date=2 March 2023 |work=Monterey Herald |date=25 April 2007}}

Erdman was a leading expert in the international economics field and published non-fictional works, such as Tug of War, which set out his views on exchange rates and the international financial system.

Erdman was married to Helly Boeglin and they had two daughters.{{cite news |title=Healdsburg resident turned economics career into best-selling books |url=https://www.pressdemocrat.com/article/news/healdsburg-resident-turned-economics-career-into-best-selling-books/ |access-date=1 March 2023 |work=Santa Rosa Press Democrat |date=24 April 2007}} After the collapse of the Swiss bank, they moved to England and later Northern California. Erdman died from cancer at his ranch in Healdsburg, California on April 23, 2007.

• The Billion Dollar Sure Thing (1973)
• The Silver Bears (1974)
• The Crash Of '79 (1976)
• The Last Days Of America (1981)
• The Panic Of '89 (1986){{cite news |title=Books by Paul Emil Erdman and Complete Book Reviews |url=https://www.publishersweekly.com/pw/authorpage/paul-emil-erdman.html |access-date=2 March 2023 |work=Publishers Weekly |language=en}}
• The Palace (1987){{cite news |last1=Levy |first1=Francis |title=Why Hollywood Still Goes by the Book |url=https://www.nytimes.com/1979/03/25/archives/why-hollywood-still-goes-by-the-book-why-hollywood-still-goes-by.html |access-date=2 March 2023 |work=The New York Times |date=25 March 1979}}{{cite news |last1=Harmetz |first1=Aljean |title=Novel and Screenplay to Be Written at Same Time |url=https://www.nytimes.com/1979/02/15/archives/novel-and-screenplay-to-be-written-at-same-time-britains-youth.html |access-date=2 March 2023 |work=The New York Times |date=15 February 1979}}{{cite news |last1=Allen |first1=Henry |title=Paul Erdman, After the Crash |url=https://www.washingtonpost.com/archive/lifestyle/1979/10/23/paul-erdman-after-the-crash/b964c9dd-56e7-4d64-8815-859cfa83110d/ |access-date=2 March 2023 |newspaper=Washington Post |date=23 October 1979}}{{cite news |title=Meryl Streep pauses for family matters. |url=https://www.nytimes.com/1979/08/24/archives/at-the-movies-meryl-streep-pauses-for-family-matters.html |access-date=2 March 2023 |work=The New York Times |date=24 August 1979}}
• What's Next? (1988)
• The Swiss Account (1992){{cite news |title=THE SWISS ACCOUNT |url=https://www.kirkusreviews.com/book-reviews/paul-erdman/the-swiss-account/ |access-date=2 March 2023 |work=Kirkus Reviews |language=en}}
• Zero Coupon (1993)
• The Set-up (1997)
• The Great Game (2007)

• {{cite book |last1=Erdman |first1=Paul |title=Paul Erdman's Money Book: An Investor's Guide to Economics and Finance |date=1984 |publisher=Random House |isbn=978-0-394-52482-5 |language=en}}
• {{cite book |last1=Erdman |first1=Paul |title=What's Next?: How to Prepare Yourself for the Crash of '89 and Profit in the 1990's |date=1988 |publisher=Doubleday |isbn=978-0-385-24698-9 |url= |language=en}}
• {{cite book |last1=Erdman |first1=Paul |title=Tug of War: Today's Global Currency Crisis |date=1996 |publisher=St. Martin's Press |isbn=978-0-312-15899-6 |language=en}}

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Category:1932 births

Category:2007 deaths

Category:American business writers

Category:American economics writers

Category:American mystery writers

Category:20th-century American novelists

Category:Edgar Award winners

Category:Walsh School of Foreign Service alumni

Category:University of Basel alumni

Category:American businesspeople convicted of crimes

Category:American male novelists

Category:People from Stratford, Ontario

Category:People from Healdsburg, California

Category:20th-century American male writers

Category:Novelists from California

Category:20th-century American non-fiction writers

Category:American male non-fiction writers