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The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron

by

The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron Cover

 

Synopses & Reviews

Publisher Comments:

"Hell is empty, and

all the devils are here."

-Shakespeare, The Tempest

As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?

According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.

All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature.

Among the devils you'll meet in vivid detail:

• Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending.

• Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices.

• Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried.

• Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants.

• Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line.

• Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission.

• Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity.

• Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country.

Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.

Synopsis:

The tenth-anniversary edition of the definitive account of the Enron scandal, updated with a new chapter

and#160;

The Enron scandal brought down one of the most admired companies of the 1990s. Countless books and articles were written about it, but only The Smartest Guys in the Room holds up a decade later as the definitive narrative. For this tenth anniversary edition, McLean and Elkind have revisited the fall of Enron and its aftermath, in a new chapter that asks why Enron still matters. They also reveal the fates of the key players in the scandal.

Synopsis:

The New York Times bestseller hailed as andquot;the best business book of 2010andquot; (Huffington Post).

As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?

According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.

All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature.

About the Author

Peter Elkind is an award-winning investigative reporter and the author of The Death Shift. He has written for The New York Times Magazine, The Washington Post, Fortune, and Texas Monthly.

Table of Contents

The Smartest Guys in the Room Authors' Notes and Acknowledgments

Cast of Characters

Our Values

Introduction

1. Lunch on a Silver Platter

2. Please Keep Making Us Millions

3. We Were the Apostles

4. The First Prima Donna

5. Guys with Spikes

6. The Empress of Energy

7. The 15 Percent Solution

8. A Recipe for Disaster

9. The Klieg-Light Syndrome

10. The Hotel Kenneth-Lay-a

11. Andy Fastow's Secrets

12. The Big Enchilada

13. An Unnatural Act

14. The Beating Heart of Enron

15. Everybody Loves Enron

16. When Pigs Could Fly

17. Gaming California

18. Bandwidth Hog

19. Ask Why, Asshole

20. I Want to Resign

21. The and#36;45 Million Question

22. We Have No Cash!

Epilogue: Isn't Anybody Sorry?

Index

Product Details

ISBN:
9781591846604
Author:
Mclean, Bethany
Publisher:
Portfolio
Author:
McLean, Bethany
Author:
Elkind, Peter
Author:
Nocera, Joe
Subject:
Economic History
Subject:
Political
Subject:
Business-History and Biography
Copyright:
Edition Description:
Trade paper
Publication Date:
20131131
Binding:
TRADE PAPER
Grade Level:
from 12
Language:
English
Illustrations:
16-page b/w photo insert on insert stock
Pages:
416
Dimensions:
9 x 6 in 1 lb
Age Level:
from 18

Related Subjects

Business » Business Law
Business » History and Biographies
Business » Investing

The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron New Trade Paper
0 stars - 0 reviews
$20.00 In Stock
Product details 416 pages Portfolio - English 9781591846604 Reviews:
"Synopsis" by ,
The tenth-anniversary edition of the definitive account of the Enron scandal, updated with a new chapter

and#160;

The Enron scandal brought down one of the most admired companies of the 1990s. Countless books and articles were written about it, but only The Smartest Guys in the Room holds up a decade later as the definitive narrative. For this tenth anniversary edition, McLean and Elkind have revisited the fall of Enron and its aftermath, in a new chapter that asks why Enron still matters. They also reveal the fates of the key players in the scandal.

"Synopsis" by ,

The New York Times bestseller hailed as andquot;the best business book of 2010andquot; (Huffington Post).

As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?

According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.

All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature.

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