Priceless: The Case that Brought Down the Visa/MasterCard Bank Cartel by Lloyd Constantine

Priceless: The Case that Brought Down the Visa/MasterCard Bank Cartel by Lloyd Constantine is an intriguing insight into price fixing and antitrust cases

My Book Review Rating: 3 stars an insightful tale lacking a literary edge

As a Compliance Manager for a UK bank I was keen to read this offering from Lloyd Constantine promising an inside look into the ground-breaking legal battle that blew the lid off the Mastercard Visa cartel and changed the face of the US debit card industry.

The facts of the case certainly made for an interesting read as big brand names including Wal-Mart, The Limited and Safeway pitted their wits against the credit card giants.

It’s billed as a ‘riveting story’ which to be fair it really should have been, unfortunately I just couldn’t gel with the writing style. I feel that the real impact of this story has been somehow lost in the very factual writing style of lawyer Constantine, and I can’t help feeling that it would have reached a whole different audience if it had been ghost written by someone else. Instead it will probably be thoroughly enjoyed by antitrust students who might one day dream of taking on a case even half the size of this record breaking campaign.

If you’re in the legal field and want an inside view into the biggest antitrust case in American history then you should definitely read this book, if you’re not then I’d give it a miss.

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In a ground-breaking case that shook the business and legal worlds to their very cores, New York-based law firm Constantine & Partners sought to end a devastating credit monopoly that personally touched millions of consumers. Its efforts culminated in the largest federal antitrust settlement in U.S. history. In Priceless, author and lead counsel Lloyd Constantine relates the dramatic account of backroom strategizing and courtroom conniving during the high-stakes litigation. Constantine, who led the team representing the plaintiffs, vividly describes how the case pitted retailers against credit card companies, and pries the lid off dodgy debit card practices. The plaintiffs, including Wal-Mart, Sears Roebuck, The Limited, Safeway, and a class of five million stores, pitted their financial futures against Visa and Mastercard in this war between giants. In the vein of breakout bestsellers like A Civil Action and A Confederacy of Fools, this fast-paced narrative, peppered with larger-than-life characters, tears open the case and shows readers how the more than $3-billion-dollar settlement came about. The riveting story features cameos by lawyers, judges, and businessmen, including then University of Arkansas law professor Bill Clinton and New York Attorney General Eliot Spitzer. The triumph is also a David and Goliath tale, in which a small boutique law firm beats four of the largest law firms in the world, including London-based law firm Clifford Chance.

• ISBN13: 9781607144564
• Condition: NEW
• Notes: Brand New from Publisher. No Remainder Mark.

Constantine leaves it on the field.

Review Date: October 21, 2009

Reviewer: Skullman 155, Merrick, N.Y. USA

A great read for the lay person as well as anyone who works in the legal profession. I was given the book as a gift and I do not know that much about anti-trust law. This book is an inspiring story about the value of hard work & perseverance. It contains many life's lessons which one can practice if they wish to push the boundries of their own lives. It will transcend time and is a must read for those of us who would like to gain insight into todays battles between consumer advocacy groups, preditory credit card companies & the "Bank Cartels". I look forward to reading more Titles from this author.

Fascinating Case

Review Date: November 5, 2009

Reviewer: Nicole M,

I didn't follow this original case in the news and was shocked by the length and intensity of the anti-trust case against Mastercard and Visa. Reading this book, I felt the lawyers' exhaustion and frustration with this 15 year plus legal action that eventually resulted in a win for Constantine and the American consumer. Priceless details the main points in the case, the lengthy litigation and the eventual outcome. When I was first starting reading this book I was struggling with the legal jargon, but slowly began to understand more about this case and the legal system. It was definitely an interesting read, but be prepared for very technical legal terms. I looked up several words and legal concepts while reading this book to gain a better understanding of the case and legal action. Priceless is not a book I would have picked up to read on my own, but I was glad I received an Advanced Reader's Copy. The book really gave me insight on the true deceptive nature of the credit industry and the major efforts it took to bring down the Visa/Mastercard bank cartel. Not a book for a light, easy read, but definitely worth reading.

Interesting

Review Date: November 2, 2009

Reviewer: Lorri Slawson,

I was skeptical about this book. I was thinking that I wouldn't enjoy it at all but was surprised when I started reading, it was very interesting! Since I don't pay much attention to the financial problems and news in general because it is always negative, I have never heard about this lawsuit. It was quite interesting to learn about all the ways Visa and Mastercard were able to get more money out of people with fees, and what was eventually done about it.