A Colossal Failure of Common Sense - The Inside Story of the Collapse of Lehman Brothers-logo

A Colossal Failure of Common Sense - The Inside Story of the Collapse of Lehman Brothers

Lawrence G. McDonald

One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers-right from the belly of the beast. In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald's Horatio Alger-like rise from a Massachusetts "gateway to nowhere" housing project to the New York headquarters of Lehman Brothers, home of one of the world's toughest trading floors. We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation's oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it. The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America's-and the world's-financial system. And it need not have happened. This is the story of why it did. From the Hardcover edition.

One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers-right from the belly of the beast. In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald's Horatio Alger-like rise from a Massachusetts "gateway to nowhere" housing project to the New York headquarters of Lehman Brothers, home of one of the world's toughest trading floors. We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation's oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it. The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America's-and the world's-financial system. And it need not have happened. This is the story of why it did. From the Hardcover edition.
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One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers-right from the belly of the beast. In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald's Horatio Alger-like rise from a Massachusetts "gateway to nowhere" housing project to the New York headquarters of Lehman Brothers, home of one of the world's toughest trading floors. We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation's oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it. The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America's-and the world's-financial system. And it need not have happened. This is the story of why it did. From the Hardcover edition.

Language:

English

Narrators:

Patrick Robinson, Erik Davies

Length:

16h 41m


Chapters

Free Sample

05:00

Chapter 1
Chapter 1

00:22


Chapter 2
Chapter 2

00:16


Chapter 3
Chapter 3

01:43


Chapter 4
Chapter 4

07:35


Chapter 5
Chapter 5

05:52


Chapter 6
Chapter 6

05:37


Chapter 7
Chapter 7

08:22


Chapter 8
Chapter 8

07:47


Chapter 9
Chapter 9

07:43


Chapter 10
Chapter 10

07:47


Chapter 11
Chapter 11

07:24


Chapter 12
Chapter 12

08:03


Chapter 13
Chapter 13

09:10


Chapter 14
Chapter 14

06:50


Chapter 15
Chapter 15

07:25


Chapter 16
Chapter 16

07:49


Chapter 17
Chapter 17

07:57


Chapter 18
Chapter 18

08:14


Chapter 19
Chapter 19

08:22


Chapter 20
Chapter 20

07:50


Chapter 21
Chapter 21

07:49


Chapter 22
Chapter 22

07:56


Chapter 23
Chapter 23

07:14


Chapter 24
Chapter 24

03:18


Chapter 25
Chapter 25

07:52


Chapter 26
Chapter 26

08:11


Chapter 27
Chapter 27

07:39


Chapter 28
Chapter 28

08:01


Chapter 29
Chapter 29

07:24


Chapter 30
Chapter 30

07:28


Chapter 31
Chapter 31

08:14


Chapter 32
Chapter 32

06:23


Chapter 33
Chapter 33

06:34


Chapter 34
Chapter 34

07:07


Chapter 35
Chapter 35

07:59


Chapter 36
Chapter 36

08:00


Chapter 37
Chapter 37

07:56


Chapter 38
Chapter 38

08:09


Chapter 39
Chapter 39

08:18


Chapter 40
Chapter 40

07:56


Chapter 41
Chapter 41

08:09


Chapter 42
Chapter 42

05:36


Chapter 43
Chapter 43

04:41


Chapter 44
Chapter 44

04:54


Chapter 45
Chapter 45

05:19


Chapter 46
Chapter 46

08:31


Chapter 47
Chapter 47

08:04


Chapter 48
Chapter 48

07:32


Chapter 49
Chapter 49

08:01


Chapter 50
Chapter 50

08:01


Chapter 51
Chapter 51

07:27


Chapter 52
Chapter 52

07:39


Chapter 53
Chapter 53

04:43


Chapter 54
Chapter 54

05:56


Chapter 55
Chapter 55

06:10


Chapter 56
Chapter 56

05:54


Chapter 57
Chapter 57

08:31


Chapter 58
Chapter 58

08:03


Chapter 59
Chapter 59

08:03


Chapter 60
Chapter 60

08:13


Chapter 61
Chapter 61

07:39


Chapter 62
Chapter 62

07:57


Chapter 63
Chapter 63

08:16


Chapter 64
Chapter 64

04:51


Chapter 65
Chapter 65

09:05


Chapter 66
Chapter 66

07:00


Chapter 67
Chapter 67

07:48


Chapter 68
Chapter 68

07:52


Chapter 69
Chapter 69

07:31


Chapter 70
Chapter 70

08:12


Chapter 71
Chapter 71

07:51


Chapter 72
Chapter 72

08:16


Chapter 73
Chapter 73

08:32


Chapter 74
Chapter 74

06:53


Chapter 75
Chapter 75

07:45


Chapter 76
Chapter 76

06:54


Chapter 77
Chapter 77

07:52


Chapter 78
Chapter 78

08:14


Chapter 79
Chapter 79

08:14


Chapter 80
Chapter 80

07:38


Chapter 81
Chapter 81

07:55


Chapter 82
Chapter 82

08:02


Chapter 83
Chapter 83

07:39


Chapter 84
Chapter 84

06:46


Chapter 85
Chapter 85

06:04


Chapter 86
Chapter 86

09:17


Chapter 87
Chapter 87

07:29


Chapter 88
Chapter 88

07:43


Chapter 89
Chapter 89

07:48


Chapter 90
Chapter 90

07:50


Chapter 91
Chapter 91

07:51


Chapter 92
Chapter 92

07:48


Chapter 93
Chapter 93

08:12


Chapter 94
Chapter 94

07:57


Chapter 95
Chapter 95

07:35


Chapter 96
Chapter 96

07:17


Chapter 97
Chapter 97

04:18


Chapter 98
Chapter 98

07:43


Chapter 99
Chapter 99

08:02


Chapter 100
Chapter 100

07:22


Chapter 101
Chapter 101

08:00


Chapter 102
Chapter 102

08:05


Chapter 103
Chapter 103

08:02


Chapter 104
Chapter 104

07:30


Chapter 105
Chapter 105

08:07


Chapter 106
Chapter 106

05:26


Chapter 107
Chapter 107

05:38


Chapter 108
Chapter 108

02:44


Chapter 109
Chapter 109

07:42


Chapter 110
Chapter 110

08:16


Chapter 111
Chapter 111

07:59


Chapter 112
Chapter 112

07:34


Chapter 113
Chapter 113

07:54


Chapter 114
Chapter 114

08:29


Chapter 115
Chapter 115

07:36


Chapter 116
Chapter 116

07:39


Chapter 117
Chapter 117

05:23


Chapter 118
Chapter 118

06:12


Chapter 119
Chapter 119

07:28


Chapter 120
Chapter 120

06:49


Chapter 121
Chapter 121

07:36


Chapter 122
Chapter 122

07:49


Chapter 123
Chapter 123

07:50


Chapter 124
Chapter 124

07:27


Chapter 125
Chapter 125

08:00


Chapter 126
Chapter 126

07:52


Chapter 127
Chapter 127

07:55


Chapter 128
Chapter 128

08:36


Chapter 129
Chapter 129

07:31


Chapter 130
Chapter 130

07:06


Chapter 131
Chapter 131

06:37


Chapter 132
Chapter 132

07:11


Chapter 133
Chapter 133

07:52


Chapter 134
Chapter 134

07:46


Chapter 135
Chapter 135

07:57


Chapter 136
Chapter 136

08:16


Chapter 137
Chapter 137

09:04


Chapter 138
Chapter 138

00:47