The Devils Casino
Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers
By Vicky Ward
(Wiley, Hardcover, 9780470540862, 272pp.)
Publication Date: April 12, 2010
Other Editions of This Title: Paperback
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The inside story of what really happened at Lehman Brothers and why it failed
The fall of Lehman Brothers has been one of the most controversial and debated topics of 2008. Was it the great mistake of 2008, and the catalyst for the credit crisis that has spun out of control? Was it just a matter of moral hazard or was it in fact the cumulation of a series of mistakes made within Lehman and outside it? Did egos and the fight for survival among all financial institutions cause Lehman to be sacrificed in an ultimately fruitless attempt to save themselves?
Only Vicky Ward, an insider journalist who writes for Vanity Fair and the London Evening Standard can uncover just what happened the weekend of September 14, 2008 and how the decisions made could continue to affect us for years to come. With access to the key players in this saga and a detailed understanding of the world of finance, Ward offers you a fascinating up close look at the individuals, institutions, and events responsible for the fall of Lehman.
- Here's what really went on behind-the-scenes-not just the weekend that Lehman Brothers was set to fail, but inside Lehman for the twenty years preceding it
- Takes us right inside the feudal culture that was to prove both Lehman's strength and survival through several potential wipeouts-and its Achilles' heel
- Written by Vicky Ward, one of today's most connected business and finance writers
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 Great Mistake isn't fiction.