House of Cards: A Tale of Hubris and Wretched Excess on Wall Street (Signed)
Cohan, William D.
Verlag: New York: Doubleday, 2009
Gebraucht
Hardcover
Verkäufer
LaCelle Rare Books, Chadwick, MO, USA
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Beschreibung:
New York: Doubleday, (2009). Fifth Printing. SIGNED BY AUTHOR ON BLANK PAGE. Very Good+ in Very Good+ Dust Jacket. Tight binding; clean pages and covers; only very slight wear; dust jacket is clean and bright with only very slight wear; price not clipped ($27.95). Bestselling classic. SEE OUR OTHER LISTINGS FOR MORE INTERESTING COLLECTIBLE BOOKS. Bestandsnummer des Verkäufers 18473
Bibliografische Details
Titel: House of Cards: A Tale of Hubris and ...
Verlag: New York: Doubleday
Erscheinungsdatum: 2009
Einband: Hardcover
Zustand: Good+
Zustand des Schutzumschlags: Good+
Signiert: Signatur des Verfassers
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House of Cards: A Tale of Hubris and Wretched Excess on Wall Street [SIGNED]
Verlag:
Doubleday, New York, 2009
Gebraucht
Hardcover
Signiert
Anbieter: Vero Beach Books, Vero Beach, FL, USA
Verkäuferbewertung 5 von 5 Sternen
Hardcover. Zustand: As New. Zustand des Schutzumschlags: As New. As new condition black boards, brown spine, and gold spine lettering contained in an as new condition non price-clipped color illustrated dust jacket. Includes List of Other Books by William D. Cohan; Author Dedication; Preliminary Page Quote; Epilogue: The Deluge; Notes; Acknowledgments and Index. Signed by the author with thin black ink at the lower section of the full title page. "A vastly entertaining true-life horror story that shows in brilliantly reported detail how and why the world financial markets melted down. On March 5, 2008, at 10:15 a.m., a hedge fund manager in Florida wrote a post on his investing-advice website that included a startling statement about Bear Stearns & Co., the nation's fifth-largest investment bank: "In my book, they are insolvent." This seemed a bold and risky statement. Bear Stearns was about to announce profits of $115 million for the first quarter of 2008, had $17.3 billion in cash on hand, and, as the company incessantly boasted, had been a colossally profitable enterprise in the eighty-five years since its founding. Ten days later, Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun. How this happened - and why - is the subject of William D. Cohan's superb and shocking narrative that chronicles the fall of Bear Stearns and the end of the Second Gilded Age on Wall Street. Bear Stearns serves as th Rosetta Stone to explain how a combination of risky bets, corporate political infighting, lax government regulations, and truly bad decision-making wrought havoc on the world financial system. Cohan's minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, and as Treasury Secretary Henry Paulson, New York Federal Reserve Bank President Tim Geithner, and Fed Chairman Ben Bernanke began to realize the dire consequences for the world economy should the company go bankrupt. But House of Cards does more than recount the incredible panic of the first stages of the financial meltdown. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the company's fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the company's leaders ignored the danger lurking in Bear's huge positions in mortgage-backed securities. The author deftly portrays larger-than-life personalities like Ace Greenberg, Bear Stearns's miserly, take-no-prisoners chairman, whose memos about re-using paper clips were legendary throughout Wall Street; his profane, colorful rival and eventaul heir, Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and became a symbol of the reasons for the firm's demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won the astonishing endgame of the saga (the Bear Sterans headquarters alone were worth more than JPMorgan paid for the whole company). Cohan's explanation of seemingly arcane subjects like credit default swaps and fixed-income securities is masterful and crystal-clear, but it is the high-end dish and powerful narrative drive that make House of Cards an irresistible reaad on a par with classics such as Liar's Poker and Barbarians at the Gate. Written with the novelistic verve and insider knowledge that made The Last Tycoons a bestseller and a prize-winner, House of Cards is a chilling cautionary tale about greed, arrogance, and stupidity in the financial world, and the consequences for all of us." - from the inner front and rear jacket flaps. Signed by Author(s). Bestandsnummer des Verkäufers 007370
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