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Synopsis: The inside story of what really happened at Lehman Brothers and why it failed
In The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers, investigative writer and Vanity Fair contributing editor Vicky Ward takes readers inside Lehman's highly charged offices. What Ward uncovers is a much bigger story than Lehman losing at the risky game of collateralized debt obligations, swaps, and leverage.
A can't put it down page turner that opens the world of Wall Street to view unlike any book since Bonfire of the Vanities, except that The Devil's Casino isn't fiction.
On Wall Street, Lehman Brothers was cheekily known as "the cat with nine lives." But as The Devil's Casino documents, this cat pushed its luck too far and died?the victim of men and women blinded by arrogance.
Review: They were the Rat Pack of Wall Street. Four close friends: one a decorated war hero, one an emotional hippie, and two regular guys with big hearts, big dreams, and noble aims. They were going to get rich on Wall Street. They were going to prove that men like them ? with zero financial training - could more than equal the Ivy-League-educated white shoe bankers who were the competition. They were going to create an institution for men like them -- men who were hungry and untrained ? and they were going to win, but not at the cost of their souls.
In short, they were going to be the good guys of finance.
Under their watch, Lehman Brothers started to grow and became independent again in 1994. But something had gone wrong on the journey. The men slowly, perhaps inevitably, changed. As Lehman Brothers grew, so too did the cracks in and among the men who had rebuilt it.
Ward takes you inside Lehman's highly charged offices. You'll meet beloved leaders who were erased from the corporate history books, but who could have taken the firm in a very different direction had they not fallen victim to infighting and their own weaknesses. You will encounter an unlikely and almost unknown Marcus Brutus, who may have had more to do with Lehman?s failings than anyone?including Dick Fuld, who has widely been considered the poster-child for the mistakes and greed of all bankers.
What Ward uncovers is that Lehman may have lost at the risky games of collateralized debt obligations, swaps, and leverage but that was just the end of a bigger story. "Little Lehman" was the Wall Street shop known to be forever fighting for its life and somehow succeeding. On Wall Street it was cheekily known as "the cat with nine lives." But this cat pushed its luck too far -- and died, the victim of men and women blinded by arrogance. Come inside The Devil's Casino and see how good men lose their way, and see how a firm that rose with the glory and bravado of Icarus fell burning in flames not so much from a sun, but from a match lit from within.
Amazon Exclusive: Q&A with Author Vicky Ward
Title: The Devil's Casino: Friendship, Betrayal, ...
Book Condition: New
Book Description John Wiley & Sons, 2010. Gebundene Ausgabe. Book Condition: Gebraucht. Gebraucht - Gut - Das Scheitern von Lehman Brothers und die Entscheidung, die altehrwürdige Investmentbank untergehen zu lassen, wird Jahrzehnte für Diskussionsstoff sorgen. Während die meisten Analysten, Experten und Investoren sich auf ungesicherte Hypothekenkredite, faule Sicherheiten und Abfindungen und Boni für die Managementebene fokussierten, konzentrierten sich einige wenige Blicke auf den berüchtigten Vorstandsvorsitzenden bei Lehman, Dick Fuld. Denn es gibt eine größere Geschichte, die in den Blickpunkt geraten wird, sobald sich der Tumult legt, und diese Geschichte heißt: Warum wurde Lehman gestattet zu scheitern und wer genau setzte sich für den Niedergang ein Welche Beweggründe gab es Wussten die in den Untergang Lehmans verstrickten Akteure, was sie taten, und um die Konsequenzen Oder opferten sie lieber die Bank, um so selbst ungeschoren davonzukommen mit katastrophalen Folgen. Nur Vicky Ward, eine Insiderin unter den Journalisten, Autorin für Vanity Fair und Kolumnistin beim Evening Standard, hat Zugang zu den Schlüsselfiguren und das notwendige Verständnis für die Finanzwelt, um enthüllen zu können, was genau am Wochenende des 14. September geschah und zu welch schrecklichen Konsequenzen dies führte. Es ging nicht so sehr darum, dass die Anteilseigner ausradiert wurden oder sogar die Fremdkapitalgeber , sondern es ging um die aufbrausende Schockwirkung, als sich zahllose Kunden und Geschäftspartner um ihr Geld betrogen sahen, und um eine Entwicklung, die zu dem anschließenden Chaos führte, unter dem die Welt noch heute leidet. Wie konnte dies geschehen, während die Bank of America, Merrill Lynch, Bear Stearns, AIG, Fannie Mae und Freddie Mac, um nur einige zu nennen, gerettet wurden Warum wurde IndyMac geschützt und WaMu in die Arme von Chase getrieben, Lehman aber erlaubt, in den Ruin zu gehen Vicky Ward zeigt dies den Lesern in der dünnen Luft der Wall Street, wo selbst die Top-Vorstände nach Luft schnappen, in einer Welt höchster Einsätze, in der es um das finanzielle Überleben geht. 288 pp. Englisch. Bookseller Inventory # INF3003134446
Book Description John Wiley & Sons, 2010. Hardcover. Book Condition: Good. All orders are dispatched the following working day from our UK warehouse. Established in 2004, we have over 500,000 books in stock. No quibble refund if not completely satisfied. Bookseller Inventory # mon0002216549
Book Description John Wiley and Sons, 2010. Hardcover. Book Condition: Used; Good. Bookseller Inventory # mon0001752822
Book Description John Wiley and Sons, 2010. Hardcover. Book Condition: Used; Good. Ex-library. Bookseller Inventory # 1977424
Book Description John Wiley & Sons 18/03/2010, 2010. Book Condition: Very Good. This book is in very good condition and will be shipped within 24 hours of ordering. The cover may have some limited signs of wear but the pages are clean, intact and the spine remains undamaged. This book has clearly been well maintained and looked after thus far. Money back guarantee if you are not satisfied. See all our books here, order more than 1 book and get discounted shipping. . Bookseller Inventory # 7719-9780470540862
Book Description John Wiley and Sons, 2010. Hardcover. Book Condition: Used; Good. **SHIPPED FROM UK** We believe you will be completely satisfied with our quick and reliable service. All orders are dispatched as swiftly as possible! Buy with confidence!. Bookseller Inventory # mon0001566520
Book Description Wiley. Hardcover. Book Condition: VERY GOOD. little to no wear, pages are clean. The cover and binding are crisp with next no creases. Bookseller Inventory # 2689579859
Book Description Wiley. Hardcover. Book Condition: GOOD. Gently used may contain ex-library markings, possibly has some minor highlighting, textual notations, and or underlining. Text is still easily readable. Bookseller Inventory # 2690451389
Book Description Wiley. Hardcover. Book Condition: VERY GOOD. little to no wear, pages are clean. The cover and binding are crisp with next no creases. Bookseller Inventory # 2692435970
Book Description Wiley. Hardcover. Book Condition: VERY GOOD. Very Good copy, cover and pages show some wear from reading and storage. Binding may have light creases. Lots of life left in these pages. Bookseller Inventory # 2692429953