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A colossal failure of common sense: the inside story of the collapse of Lehman Brothers

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Publisher:
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Pub. Date:
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Language:
English
Description
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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ISBN:
9780307588333
9780307588357
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Grouping Information

Grouped Work ID 7f87f2c3-1e26-814a-6e08-1b23d5c9bfbf
Grouping Title colossal failure of common sense the inside story of the collapse of lehman brothers
Grouping Author mcdonald lawrence g
Grouping Category book
Last Grouping Update 2019-12-15 22:42:45PM
Last Indexed 2019-12-14 23:50:47PM

Solr Details

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auth_author2 Robinson, Patrick, 1939-
author McDonald, Lawrence G.
author2-role Robinson, Patrick,1939-
author_display McDonald, Lawrence G
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detailed_location_catalog Edmondson Pike - Adult Non-Fiction
display_description 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--arguing that this collapse need not have happened.
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owning_library_catalog Nashville Public Library
owning_location_catalog Edmondson Pike
Edmondson Pike Kids
primary_isbn 9780307588333
publishDate 2009
2010
record_details
Bib IdFormatFormat CategoryEditionLanguagePublisherPublication DatePhysical Description
overdrive:43e7db83-c9e2-47a9-b814-c5d714c2e4ce eBook eBook English The Crown Publishing Group 2010
ils:CARL0000333392 Book Books 1st ed. English Crown Business, c2009. xi, 351 p. ; 25 cm.
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subject_facet Financial crises -- United States
Global Financial Crisis, 2008-2009
Lehman Brothers (1993- ) -- History
title_display A colossal failure of common sense : the inside story of the collapse of Lehman Brothers
title_full A Colossal Failure of Common Sense The Inside Story of the Collapse of Lehman Brothers
A colossal failure of common sense : the inside story of the collapse of Lehman Brothers / Lawrence G. McDonald with Patrick Robinson
title_short A colossal failure of common sense :
title_sub the inside story of the collapse of Lehman Brothers
topic_facet Business
Finance
Financial crises
Global Financial Crisis, 2008-2009
History
Nonfiction