Bond Daddy

David Walby
Outskirts Press (2009)
ISBN 9781432742492
Reviewed by Marcy Blesy for Reader Views (1/10)


“Bond Daddy” by David Walby is a personal memoir of the years he spent selling tax-free bearer bonds over the phone in Pensacola, Florida.  The headline in the September 9, 1973 issue of the “News Journal” read “100 million dollar international bond swindle uncovered in Pensacola.  Fifth bond firm closed by state officials.”   The ongoing investigation into the practices at his bond company led to an arrest but eventual dropped charges. 
      
Mr. Walby accounts his journey from an out-of-work, uninspired young man to an adept seller of bearer bonds, first to bankmen and then to bankmen on behalf of individuals trying to hide money from the IRS.  Bonds were sold illegally to net the bond sellers more money than they were entitled, in an underhand manner to hide the money from the government.  While sometimes the transactions were legitimate, many of the dealings were nothing but an attempt to make money any way possible.  Even the murder of a colleague did not deter anyone from their dealings.
        
Mr. Walby depicts himself not as the mastermind, but as the “worker bee” who got accustomed to having money for the first time in his life.  He also tried to fool himself into believing that he was not doing anything illegal, as he remained within the Florida law of not making sales inside the state itself, as he made phone contacts across state lines.
     
Perhaps Mr. Walby wants to clear his soul of any wrongdoing.  He went on to marry and lead a more acceptable lifestyle.  I appreciate his candidness.  Wouldn’t it be interesting if Bernie Madoff decided to come clean in a memoir?  “Bond Daddy” is easy to read with short chapters.  He has changed some names and situations for his own protection.  The reader feels disheartened reading about the crookedness of individuals who prey on innocent people, but Mr. Walby also demonstrates the American desire to make money and the ability to fool one’s self into believing that no one is going to get hurt.  I wish him well in the next chapter of his life.

Make comment on weblog

FTC Disclosure