Joseph Tibman

I have written "The Murder of Lehman Brothers, An Insider's Look at the Global Meltdown." Writing it was unexpected. I was a a senior investment banker at Lehman where I worked for about 20 years. Over this period of time I watched Lehman rise from the dregs of investment banking to occupy a top-tier position. I like to think that I played a very small part in that ascent.

Why did I write the book? Lehman, my second home for many years,was the linchpin that sparked the greatest financial crisis in the lifetime of anyone who wasn't around for the Great Depression. This deeply affected me. Also, I was certain there would be a string of Lehman books written and I realized that the list might include only books that were tabloid, oversimplified, or both. I wanted to be sure they would be at least one sober account among the many.

As many have said and written, it is true that there were a small number of people within Lehman's highest ranks who determinedly accumulated a massive, eventually toxic real estate exposure. At the same time, there were many external factors that created the conditions for the credit bubble and the Lehman sparked global financial meltdown. There are also those whose judgment was faulty at key junctures. Unfortunately, to date little has been done to address the conditions that enable a small number of individuals to trample all who stand in their way as they put not only their own financial institution at risk but the world as well.

Many people who are not in finance may not fully understand the perfect storm that led to Lehman's demise and the financial panic. My hope is that after reading my book such a reader will understand far more clearly exactly what went down and understand that we remain at risk.