Ivar Kreuger

"Articles Austin, K. L., “Ivar Kreuger’s Story in Light of Five Years,” The New York Times, Mar. 7, 1937. Barman, T. G., “Ivar Kreuger: His Life and Work,” The Atlantic Monthly, vol. 150, Aug. 1932, at 238-50. Blystone, Richard, “The Crash Heard ‘Round the World,’” The Associated Press, Oct. 29, 1979, AM Cycle. Cannon, Arthur M., “Kreuger, Genius and Swindler,” Journal of Accountancy, Sep. 1961, at 94. Childs, Marquis W., “Sweden: Where Capitalism is Controlled,” Harper’s Magazine, vol. 167, Nov. 1933, at 749. Citron, Bernhard, “America Sinks; Russia Rises,” Litter’s Living Age, Jun. 1932, at 315. Crum, W. L. and J. B. Hubbard, “Review of the First Quarter of 1932,” Review of Economic Statistics, vol. 14, May 15, 1932, at 66-73. Done, Kevin, “Swedish Match Strikes Back in Royal Style,” Financial Times, Mar. 31, 1987, at 6. Fane, Malachy, “The Swedish Juggler,” New Republic, vol. 71, Jul. 13, 1932, at 239. “Financial World Not Yet Sure What Kreuger Suicide Means,” Business Week, Mar. 19, 1932, at 5. Flesher, Dale L. and Tonya K. Flesher, “Ivar Kreuger’s Contribution to Financial Reporting,” Accounting Review, vol. 61, no. 3, Jul. 1986, at 421-34. Flynn, John T., “Kreuger: Another Holding Company Debacle,” New Republic, vol. 71, May 25, 1932. “Four Masters of Fraud,” Newsweek, vol. 49, Apr. 11, 1957, at 94. Galbraith, John Kenneth, “How to Become an International Swindler,” Reporter, vol. 16, Mar. 21, 1957, at 45. “German Matches; Strike a Light,” Economist, Jan. 22, 1983, at 66. Hertzberg, Sidney, “Aftermath of the Kreuger Crash,” Current History, vol. 39, Nov. 1933, at 239. Hertzberg, Sidney, “Ivar Kreuger’s Liabilities,” Current History, vol. 37, Nov. 1932, at 233. “High Finance: The House of Matches,” Time, vol. 46, Nov. 5, 1945, at 88. “Kreuger Finale,” Time, vol. 28, Jul. 13, 1936, at 66. Labaton, Stephen, “Archives of Business: A Rogues Gallery; Ivar Kreuger: Sweden’s Match King,” The New York Times, Dec. 7, 1986, sect. 3, at 23. Lambert, Richard, “Shady Dealings on the Grandest Scale,” Financial Times, Aug. 15, 1984, at 9. Lazar, Maria, “Is Kreuger Dead?,” Littell’s Living Age, vol. 344, Mar. 1933. Lebergott, Stanley, “The Shape of the Income Distribution,” American Economic Review, vol. 49, Jun. 1959, at 328. Lewinsohn, Richard, “Second Thoughts on Kreuger,” Littell’s Living Age, Jun. 1932, at 318. Lundberg, Erik, “The Rise and Fall of the Swedish Model,” Journal of Economic Literature, vol. 23, Mar. 1985, at 1. Lyons, Eugene, “Interviewing the Titans,” Saturday Review of Literature, vol. 18, Oct. 22, 1938, at 6. Marcosson, Isaac F., “An Interview with Ivar Kreuger,” Saturday Evening Post, Apr. 2, 1932, at 3-5. Marcosson, Isaac F., “The Match King,” Saturday Evening Post, Oct. 12, 1929, at 3-4. Marcosson, Isaac F., “The Swedish Recovery,” Saturday Evening Post, Feb. 22, 1936, at 23. “Matches: Cigarettes Light Way for Continued Diamond Profits,” Newsweek, vol. 7, Jun. 13, 1936, at 34. Olson, Alma Luise, “Kreuger is Called Victim of System,” The New York Times, Mar. 26, 1933, at 2. Picton, John, “The Death of the World’s Greatest Swindler,” Toronto Star, Aug. 21, 1988, at A0. Ross, Nancy L., “Yesterday’s Financial Failures, Today’s Successful Souvenirs,” Washington Post, Mar. 1, 1981, at F1. Rydbeck, Oscar, “Was Kreuger Crazy?,” Littell’s Living Age, Jun. 1932, at 321. Shaplen, Robert, “Annals of Crime: Kreuger - I,” New Yorker, vol. 35, Sep. 26, 1959, at 51. Shaplen, Robert, “Annals of Crime: Kreuger - II,” New Yorker, vol. 35, Oct. 3, 1959, at 108. Shaplen, Robert, “Annals of Crime: Kreuger - III,” New Yorker, vol. 35, Oct. 10, 1959, at 51. Simons, Rodger L., “The Garden of Sweden,” North American Review, vol. 238, Nov. 1938, at 414. Smith, Geoffrey, “The Legacy of Ivar Kreuger,” Forbes, vol. 136, Dec. 2, 1985, at 143. Soloveychik, George, “The Tragedy of Ivar Kreuger,” Nineteenth Century, vol. 111, Apr. 1932, at 421. “Swedish Stockmarket; Too Hot to Handle,” Economist, Apr. 30, 1983, at 106. Taylor, J. R., “Some Antecedents of the Securities and Exchange Commission,” Accounting Review, vol. 16, Jun. 1941. “The Diamond Match Co.,” Fortune, vol. 19, May 1939. “The Kreuger Case Again,” New Republic, vol. 73, Jan. 25, 1933, at 284. “The Kreuger Saga,” Littell’s Living Age, vol. 355, Feb. 1939. “The Passing of Ivar Kreuger,” Literary Digest, Mar. 26, 1932, at 56. “The Week,” New Republic, Mar. 23, 1932, at 1. “The World Over,” Littell’s Living Age, vol. 342, May 1932, at 189. Thompson, Howard and Anita Gates, “Movies: Critics’ Choice,” The New York Times, Dec. 5, 1999, at 6. Thompson, Ralph, “Sweden’s Losses in Kreuger Crash,” Current History, vol. 36, Jul. 1932, at 501. Thompson, Ralph, “The Unfolding of the Kreuger Scandal,” Current History, vol. 36, Jun. 1932, at 361. Unstad, Lyder L., “Sweden: The Middle Way,” American Economic Review, vol. 26, Jun. 1936, at 304. Visser, W. A., “Who was Ivar Kreuger?,” Christian Century, vol. 49, May 11, 1932, at 617. Webb, Sara, “Stora Offers 541 M Pounds for Swedish Match,” Financial Times, Mar. 10, 1988, at 48. “Why the House of Kreuger Fell,” Literary Digest, vol. 115, Feb. 4, 1933, at 40. Whyte, Frederic, “An Interpretation of Ivar Kreuger,” Contemporary Review, vol. 143, Apr. 1933, at 465. Winkler, Max, “Playing with Matches,” in Foreign Bonds: An Autopsy, (Beard Books, 1999), at 93-103. Winterich, John T., “Swindler Extraordinary,” Saturday Review, vol. 40, Feb. 2, 1957, at 20. “World’s Greatest Swindler,” Time, vol. 69, Jan. 28, 1957, at 106. Wuorinen, John H., “Kreuger’s Vanished Millions,” Current History, vol. 26, May 1932, at 241. Zeff, Stephen A., “How the US Accounting Profession Got Where It is Today: Part I,” Accounting Horizons, vol. 17, no. 3, Sep. 2003, at 189-205."

"By lending out money, which he in turn had borrowed himself, to various governments, Kreuger had acquired a monopoly on matches worldwide. But the entire business idea was based on Ivar Kreuger constantly borrowing more money. The empire had to continuously expand, otherwise, the funds would run out, since Kreuger had lent out more than the match sales generated in revenue. In fact, it was a large pyramid scheme, and on March 12, when a couple of major investors after several frantic persuasion attempts said no to more loans, Ivar Kreuger realized that it was no longer feasible. The bubble was going to burst. And then he no longer wanted to be involved."

"soon turned out that Erik Åkerlund had deceived everyone: he did not actually own the Stockholms-Tidningen, but only acted as a front for Ivar Kreuger’s brother, Torsten. He had tried to build a monopoly position in the Stockholm press. But it had partially occurred in secrecy. Since he already owned Aftonbladet and Stockholms Dagblad, he used Åkerlund as a front in Stockholms-Tidningen. In this way, he could conceal who the real owner was. But now Torsten Kreuger, probably undeservedly, was drawn into the storm winds after his brother’s breathtaking business deals, and soon he was prosecuted for some dealings on the periphery of the financial scandal."