The height of the society-wide insanity occurred when eight speculators,
known as “the Cavaliers,” floated a total of $55 billion in postdated
checks, seemingly in an attempt to corner the market. The most prolific
check writer among the Cavaliers was Jassim al-Mutawa, a Passport Office
employee in his early-twenties, who managed to pass off $14 billion all
by himself. Sloppy accounting on the part of his brother and partner,
Najeeb al-Mutawa, caused Jassim to become a staggering $3.4 billion
overdrawn.
