The Murder of Lehman Brothers: An Insider's Look at the Global Meltdown
The Murder of Lehman Brothers sheds light on the perfect, complex storm that led to Lehman's collapse and the ensuing global consequences. It includes a brief history of Lehman, highlighting certain notable events, including a previous near collapse, the rise of Richard Fuld and the one-firm culture, the repeated mistakes made by providers of credit, inventing new financings—rationalizing that while profitable, these risky endeavors are actually not risky, more specifically subprime mortgages and Lehman's role, as well as an internal battle over Lehman's embrace of a massive real estate book, the emergence of Lehman as a top tier firm, the unraveling that began with the subprime meltdown, and gained vigor with the fall of Bear, and the consequences of Lehman's fall.
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.