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Chargement... The Murder of Lehman Brothers: An Insider's Look at the Global Meltdownpar Joseph Tibman
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“This is the only [financial crisis book] that brings Wall Street culture to life and shows how reckless excess was fed by Washington politicians” “I recommend you read The Murder of Lehman Brothers to find out why the financial crisis happened.” “I'm touting this book not only because it rings true about the Wall Street I know, but because it implicates the Washington political leaders who paved the way for Wall Street's excessive risk taking and predatory lending” “The Murder of Lehman Brothers" is a better book [than A Colossal Failure of Common Sense], “What it does better than anything else is humanize a firm and its employees in a way that's been rare of late.” “…the lesson from Tibman's memoir of Lehman is the profound ambiguity of a seductive culture and an all-powerful, if Wizard of Oz-like leader.”
"To me, as a multi-decade, veteran Lehman investment banker, the breathtaking death of my firm appeared impossible as little as three days ahead of the bankruptcy filing. Not only did I consider our "master of the universe" firm invincible, but, like my colleagues, when it became clear we were in deep trouble, it was unfathomable that the US government could misstep so foolishly as to let any bulge bracket investment bank simply fail. The worst case seemed to be the Bear Stearns route. "But Henry Paulson, Treasury Secretary, is a Bush appointee, and so like other cabinet members, a free agent, ruling his fiefdom like a Tsar. He in effect gave his singular nod to the dissolution of a century and a half old firm, and the largest US bankruptcy ever, launching a sucker punch to global financial markets and sending an already weak economy into a tailspin". This book sheds light on the perfect, complex storm that led to Lehman's collapse and the ensuing global consequences. It includes a brief history of Lehman, highlighting certain notable events, including a previous near collapse, the rise of Richard Fuld and the "one-firm" culture, the repeated mistake made by providers of credit, inventing new financings -- rationalising that while profitable, these risky endeavours are actually not risky, more specifically sub-prime mortgages and Lehman's role, as well as an internal battle over Lehman's embrace of a massive real estate book, the emergence of Lehman as a top tier firm, the unravelling that began with the sub-prime meltdown, and gained vigour with the fall of Bear, and the consequences of Lehman's fall. Aucune description trouvée dans une bibliothèque |
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Google Books — Chargement... GenresClassification décimale de Melvil (CDD)332.660973Social sciences Economics Finance Investing Investment BankingClassification de la Bibliothèque du CongrèsÉvaluationMoyenne:
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