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A Colossal Failure of Common Sense: The inside Story of the Collapse of Lehman Brothers

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A Colossal Failure of Common Sense: The inside Story of the Collapse of Lehman Brothers Cover

 

Synopses & Reviews

Publisher Comments:

One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers—right from the belly of the beast.

In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald’s Horatio Alger-like rise from a Massachusetts “gateway to nowhere” housing project to the New York headquarters of Lehman Brothers, home of one of the world’s toughest trading floors.

We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation’s oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it.

The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America’s—and the world’s—financial system. And it need not have happened. This is the story of why it did.

Synopsis:

LAWRENCE G. McDONALD is a managing director of Pangea Capital Management LP. He was, until 2008, vice president of distressed debt and convertible securities trading at Lehman Brothers. He ran an extremely successful joint venture between the firm’s fixed income and equity divisions and was one of Lehman’s most consistently profitable traders. McDonald is also cofounder of Convertbond.com, named by Forbes magazine as “Best of the Web” from 2000 to 2003, specifically citing it as the Web’s premier source for convertible securities information, valuation, and news.

PATRICK ROBINSON wrote Lone Survivor with the U.S. Navy SEAL Marcus Luttrell.

Synopsis:

One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers--right from the belly of the beast.

In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald's Horatio Alger-like rise from a Massachusetts gateway to nowhere housing project to the New York headquarters of Lehman Brothers, home of one of the world's toughest trading floors.

We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation's oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it.

The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America's--and the world's--financial system. And it need not have happened. This is the story of why it did.

From the Hardcover edition.

Table of Contents

A rocky road to Wall Street — Scaring Morgan Stanley to death — Only the Bears smiled — The man in the ivory tower — A miracle on the waterway — The day Delta Air Lines went bust — The tragedy of General Motors — The mortgage bonanza blows out — King Richard Thunders forward — A 100 million dollar crash for subprime's biggest beast — Wall Street stunned as Kirk quits — Fuld, defiant to the end.

Product Details

ISBN:
9780307588357
Subtitle:
The inside Story of the Collapse of Lehman Brothers
Publisher:
Crown Business
Author:
Lawrence G. McDonald with Patrick Robinson
Author:
Lawrence G. McDonald
Author:
Robinson, Patrick
Author:
Patrick Robinson
Author:
McDonald, Lawrence G.
Subject:
Business & Economics : General
Subject:
General
Subject:
Corporate & Business History - General
Subject:
Economic Conditions
Subject:
Investments & Securities - General
Subject:
Financial crises -- United States.
Subject:
Bank failures -- United States.
Subject:
General Business & Economics
Subject:
Business-Accounting and Finance
Subject:
Business-Business Profiles
Subject:
Business - General
Subject:
Business-History and Biography
Subject:
Foreign Languages-Chinese
Publication Date:
2009
Binding:
ELECTRONIC
Pages:
351

Related Subjects

Business » Accounting and Finance
Business » General
Business » History and Biographies
Business » Investing
History and Social Science » Economics » General

A Colossal Failure of Common Sense: The inside Story of the Collapse of Lehman Brothers
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$ In Stock
Product details 351 pages Crown Publishing Group - English 9780307588357 Reviews:
"Synopsis" by , LAWRENCE G. McDONALD is a managing director of Pangea Capital Management LP. He was, until 2008, vice president of distressed debt and convertible securities trading at Lehman Brothers. He ran an extremely successful joint venture between the firm’s fixed income and equity divisions and was one of Lehman’s most consistently profitable traders. McDonald is also cofounder of Convertbond.com, named by Forbes magazine as “Best of the Web” from 2000 to 2003, specifically citing it as the Web’s premier source for convertible securities information, valuation, and news.

PATRICK ROBINSON wrote Lone Survivor with the U.S. Navy SEAL Marcus Luttrell.

"Synopsis" by , One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers--right from the belly of the beast.

In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald's Horatio Alger-like rise from a Massachusetts gateway to nowhere housing project to the New York headquarters of Lehman Brothers, home of one of the world's toughest trading floors.

We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation's oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it.

The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America's--and the world's--financial system. And it need not have happened. This is the story of why it did.

From the Hardcover edition.

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