A Colossal Failure of Common Sense: The Inside Story of the

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

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 answersâ‚¬"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 McDonaldâ‚¬s Horatio Alger-like rise from a Massachusetts â‚¬Å“gateway to nowhereâ‚¬Â housing project to the New York headquarters of Lehman Brothers, home of one of the worldâ‚¬s toughest trading floors.
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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 nationâ‚¬ 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.
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The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to Americaâ‚¬sâ‚¬"and the worldâ‚¬sâ‚¬"financial system. And it need not have happened. This is the story of why it did.
Country USA
Brand Currency
Manufacturer Crown
Binding Paperback
ItemPartNumber 28954163
Color White
ReleaseDate 2010-10-12
UnitCount 1
EANs 9780307588340

Country	USA
Brand	Currency
Manufacturer	Crown
Binding	Paperback
ItemPartNumber	28954163
Color	White
ReleaseDate	2010-10-12
UnitCount	1
EANs	9780307588340

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

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