A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers - Hardcover

Mcdonald, Lawrence G.; Robinson, Patrick

Hardcover

ISBN 10: 0307588335 ISBN 13: 9780307588333

Verlag: Crown Pub, 2009

Inhaltsangabe

Texto en inglés. Tapa dura con sobrecubierta de editorial ilustrada. Como nuevo. 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.

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Reseña del editor:

A former vice president of Lehman Brothers explains the financial collapse of the securities giant in 2008, what led to the financial crisis, and who had been responsible for its downfall.

Biografía del autor:

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.

Über diese Auflage

• Verlag: Crown Pub
• Erscheinungsdatum: 2009
• ISBN 10: 0307588335
• ISBN 13: 9780307588333
• Einband: Tapa dura
• Anzahl der Seiten: 351