A Colossal Failure of Common Sense

A Colossal Failure of Common Sense

The Inside Story of the Collapse of Lehman Brothers

Book - 2009
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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.
Published: New York : Crown Business, c2009.
Edition: 1st ed.
ISBN: 9780307588333
0307588335
Branch Call Number: 332.6209 MACD
Characteristics: xi, 351 p. ;,25 cm.
Additional Contributors: Robinson, Patrick 1939-

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bookdan2017
May 03, 2017

Amazing! The story behind the Signature event of the financial crisis.

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fdb045
Nov 10, 2016

Excellent read. Very well written for the layman despite describing the complicated finance world.
(I would include this book in the top 3 i have read on the subject - USA Financial Crisis Inquiry Report (don't be afraid); Stress Test by Timothy Geithner)

s
StarGladiator
Feb 23, 2014

So did the author forget to mention how Lehman Bros. created R3 Partners, a so-called hedge fund, to hide billions in debt? Forgot that, did he? Wonder what else he forgot to mention?

Grenoble17 Aug 27, 2012

Good look into the inner workings at Lehman that led to their collapse. The first few chapters are more autobiographical about the author's rise to Lehman. At Lehman, the author gives a good look into the warnings of the impending collapse of the housing market, the risks of subprime mortgages and high leverage, and the culture of envy and risk that permeated from the top of Lehman.

e
Elizabethwv
Feb 25, 2012

Quite interesting. The book is easy to understand for the non-Wall Street person. Provides details of economic events happening globally that affected the demise of Lehman Brothers and how its demise affected people worldwide. Scarey events. Also amazing that the men at the top could be so greedy and so disconnected with reality. And that greed and disregard affected billions of people!

bonitakale May 29, 2011

Yes, a bit much on the autobiography, but wow--it was fascinating to see how someone could want something (a job in finance, no less!) that much. It was like getting inside the mind of a different species.

And his portraits of other people were so interesting, his respect for some of them so real. Held my interest like a novel.

e
evandertogt
Dec 17, 2010

I found it interesting to understand something of what was going on on Wall Street in the years preceding 2008.
The book has an autobiographical character, following the author in his struggle to get a job at Wall Street, and then relating his own perspective (even bias) about the events at Lehman Brothers.

r
Russ_A
Sep 14, 2010

Perhaps this is better than it seemed at first, but I got real sick of the author talking about his prowess at golf and salesmanship. I was interested in the financial collapse and it wasn't getting there very fast, so I stopped after a few dozen pages. His "poor me" hardscrabble kid overcoming a rotten childhood but admiring the absent father (who was also a scratch golfer) schtick just stuck in my craw.

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