The Murder of Lehman Brothers: An Insider's Look at the Global Meltdown
On the first anniversary of the murder of Lehman, Joseph Tibman, a 20-year veteran and senior investment banker, reveals in plain English, the people and forces that share responsibility for this catastrophe. His shattering account is told as only a true Lehman insider's account could be told, by someone who spent two decades at the firm. Writing under pseudonym, Joseph Tibman, the author explains the feud that erupted, soon after the death of the last Lehman Family CEO, between the two "houses" of Lehman--the investment bankers and the sales and trading group. He provides the most detailed account on record of the rise of Dick Fuld from junior trader to CEO who rose above his legendary inarticulateness nickname just once, but profoundly, at the seminal, game-changing moment of the 9/11 attacks. The Murder of Lehman Brothers is the story of greed run amok. The story is told in the words of someone who was there when Lehman, post 9/11, became the firm that always outperformed; someone who was a witness to what a small handful of people inside Lehman did to crush it with the assistance of misguided, inept politicians and a dysfunctional, antiquated regulatory infrastructure. The Murder of Lehman Brothers is not only for those who earn their livings (or used to) working in the financial markets. It is written simply for anyone who wants to understand the perfect storm of screw-ups that has led to the current crisis. It is a primer that explains why action must be taken to ensure no one is ever again in a position to dismantle the system or bet the bank, bringing down major institutions and threatening the entire global economy. CLICK ON "SEE ALL EDITORIAL REVIEWS" TO READ THE PROLOGUE, AN AMAZING DICK FULD TALE NEVER BEFORE IN PRINT
Lehmanites.com Review:
One of the best books on the financial crisis so far. Written by a veteran employee who witnessed the rise of CEO Dick Fuld, 9/11, and the fall of Lehman. Joseph Tibman (pseudonym) provides a vibrant and straight account of the relationships and behaviours within Lehman Brothers that slowly lead to the demise of one of the fastest rising Houses on Wall Street. But the book also goes beyond simply casting the blame on Fuld and his first circle's greed and mismanagement and depicts the pernicious effects of the American economic policy since 2001, the interconnections between Wall Street and Washington and the failure of the rating agencies.
Former Lehman employees will easily recognise the profound ambiguity of a seductive culture and an all-powerful leader, whose personality and public profile played such an important role in the last days of the Firm. The book is particularly valuable because it presents a more human figures of what has become the symbol of this financial crisis without trying to settle personal accounts.
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In your brief depiction of the book it is nice to read that you saw in the book exactly what I intended to convey.