The Collapse Of Lehman Brothers
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A Colossal Failure Of Common Sense
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Author : Lawrence G. McDonald
language : en
Publisher: Crown Pub
Release Date : 2009
A Colossal Failure Of Common Sense written by Lawrence G. McDonald and has been published by Crown Pub this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
A former vice president of Lehman Brothers explains the financial collapse of the securities giant in 2008, what led to the financial crisis, and who had been responsible for its downfall.
The Fed And Lehman Brothers
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Author : Laurence M. Ball
language : en
Publisher: Cambridge University Press
Release Date : 2018-06-07
The Fed And Lehman Brothers written by Laurence M. Ball and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-07 with Business & Economics categories.
This book sets the record straight on why the Federal Reserve failed to rescue Lehman Brothers during the financial crisis.
A Colossal Failure Of Common Sense
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Author : Larry McDonald
language : en
Publisher: Random House
Release Date : 2009-11-24
A Colossal Failure Of Common Sense written by Larry McDonald and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-24 with Biography & Autobiography categories.
When Lehman Brothers bank went under, the world gasped. One of the world's biggest and most successful banks, its downfall was the event that sparked the slide of the world economy toward a Great Depression II. This is the gripping inside story of the dark characters who ruled Lehman, who refused to heed warnings that the company was headed for an iceberg; the world-class, mid-level people who valiantly fought to get Lehman off its disastrous course; the crash that didn't have to happen. A news-breaking explanation that answers the question everyone still asks: "why did it happen?" Larry McDonald, a former vice-president at Lehman Brothers in charge of distressed debt trading and convertible securities, was right at the centre of the meltdown of the company and gives an intimate look at the madhouse that Lehman became. This book shows beyond a doubt that Richard Fuld, the long-time CEO of Lehman, and his top executives, were totally out to lunch, allowing Lehman's risk profile to reach gargantuan proportions. While the traders, like Larry McDonald, clearly predicted more than two years in advance that the market for packaged subprime mortgages and credit default swaps would evaporate, the high-flying Lehman bosses pushed hard on the gas pedal until the very end.
Lehman Brothers
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Author : Oonagh McDonald
language : en
Publisher:
Release Date : 2016
Lehman Brothers written by Oonagh McDonald and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Bank failures categories.
Using extensive documentary evidence and interviews with former Lehman employees, Oonagh McDonald reveals the decisions that led to Lehman's collapse, investigates why the government refused a bail-out and whether the implications of this refusal were fully understood. In clear and accessible language she demonstrates both the short and long term effects of Lehman's collapse
Did The Accounting Treatment Of Financial Instruments Contribute To The Collapse Of Lehman Brothers
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Author : Viktoriya Sheyretova
language : en
Publisher: GRIN Verlag
Release Date : 2018-05-29
Did The Accounting Treatment Of Financial Instruments Contribute To The Collapse Of Lehman Brothers written by Viktoriya Sheyretova and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-29 with Business & Economics categories.
Bachelor Thesis from the year 2015 in the subject Economics - Finance, grade: 1,7, University of Frankfurt (Main), language: English, abstract: The main issue of this working paper is whether the accounting treatment of the Repurchase agreement 105 contributed to the collapse of Lehman Brothers. It was questioned how the Repos were used and the following effects over Lehman’s financial stability. While seeking for an appropriate solution of the main issue, the paper goes through the historical fluctuations of the financial system, from the 1950s till 2006 (two years before the Lehman’s bankruptcy). Further, the paper reviews some causes that may have led to the collapse of the investment bank. Finally, the global impact of the collapse has been summarized and possible preventions from future crisis have been proposed by the author.
Uncontrolled Risk Lessons Of Lehman Brothers And How Systemic Risk Can Still Bring Down The World Financial System
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Author : Mark Williams
language : en
Publisher: McGraw Hill Professional
Release Date : 2010-04-16
Uncontrolled Risk Lessons Of Lehman Brothers And How Systemic Risk Can Still Bring Down The World Financial System written by Mark Williams and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-16 with Business & Economics categories.
Why was Lehman ignored when everyone else was bailed out? A risk advisor for top financial institutions and top B-school professor, Mark Williams explains how uncontrolled risk toppled a 158-year-old institution, using this story as a microcosm to illuminate the interconnection of the global financial system, as well as broader policy implications. This story is told through the eyes of an experienced risk manager and educator in a detailed and engaging way and provides the reader with a complete summary of how a savvy company with sophisticated employees and systems could have gotten it so wrong.
Bank Failure
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Author : Dennis Faber
language : en
Publisher: Oxford University Press, USA
Release Date : 2017
Bank Failure written by Dennis Faber and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Law categories.
This new book analyses the legal and practical issues experienced during the Lehman Brothers litigation, the largest and most complex bankruptcy proceedings in history. By examining the issues the work provides a useful reference source for future large scale and cross-border bankruptcy proceedings of multinational groups. The author team includes experts from the various jurisdictions in which Lehman Brothers was operative, many of whom were involved in the litigation. The authors set out practical solutions to the issues faced, concerning, for example, the use of existing payment and settlement systems for consent solicitation, and filing instructions and insolvency distributions. Economic challenges, such as the valuation of distressed financial instruments, are also considered. Additionally, the book provides a critique of the current law, analysis of the interpretation and scope of core legal principles and makes recommendations for regulatory reform and judicial cooperation. In this book first-hand accounts by key parties in the insolvency proceedings with expertise on the main issues are complemented by the views of selected independent experts to provide the first complete work on this ground-breaking litigation.
The Last Of The Imperious Rich
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Author : Peter Chapman
language : en
Publisher: Penguin
Release Date : 2010-09-02
The Last Of The Imperious Rich written by Peter Chapman and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-02 with Business & Economics categories.
On September 11, 1844, Henry Lehman arrived in New York City on a boat from Germany. Soon after, he moved to Montgomery, Alabama, where he and his brother Emanuel established a modest cotton brokering firm that would come to be called Lehman Brothers. On September 15, 2008, Dick Fuld, the last CEO of Lehman Brothers, filed for corporate bankruptcy amid one of the worst financial crises in American history. After 164 years, one of the largest and most respected investment banks in the world was gone, leaving everyone wondering, "How could this have happened?" Peter Chapman, an editor and writer for The Financial Times, answers this question by exploring the complete history of Lehman Brothers between those two historic Septembers. He takes us back to its early days as a cotton broker in Alabama, and then to its glory days as one of the leading corporate financiers in America. He also provides an intimate portrait of the people who ran Lehman over the decades-from Henry Lehman, the founder, to Bobbie Lehman, who led the company into the world of radio, motion pictures, and air travel in first part of the 20th century, to Dick Fuld, who allowed it to morph into a dealer of shoddy securities. Throughout his account of this imperiously rich firm, Chapman examines the impact Lehman Brothers had not only on American finance but also on American life. As a major backer of companies like Pan American Airlines, Macy's, and RKO, Lehman helped lead the country into major new industries and helped support some of its most intrepid entrepreneurs. He then shows how, starting in the 1980s, Lehman's increased focus on short-term gain investments led the firm down the dangerous path that would eventually lead to its demise. In the end, the story of Lehman Brothers is not only the story of a truly important American company but a cautionary tale of what happens when leaders lose sight of their core mission in their quest for something too good to be true. Praise for The Last of the Imperious Rich: "Thought provoking and illuminating" - The New York Times "Chapman has succeeded in holding up a mirror to America's past - and what its future might hold" - Bloomberg
Preventing The Next Financial Crisis
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Author : Victor A. Beker
language : en
Publisher: Taylor & Francis
Release Date : 2021-04-21
Preventing The Next Financial Crisis written by Victor A. Beker and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-21 with Business & Economics categories.
The collapse of Lehman Brothers, the oldest and fourth-largest US investment bank, in September 2008 precipitated the global financial crisis. This deepened the contraction in economic activity that had already started in December 2007 and has become known as the Great Recession. Following a sluggish and uneven period of recovery, levels of private debt have recently been on the rise again making another financial crisis almost inevitable. This book answers the key question: can anything be done to prevent a new financial crisis or minimize its impact? The book opens with an analysis of the main elements responsible for the 2007/2009 financial crisis and assesses the extent to which they are still present in today ́s financial system. The responses to the financial crises - particularly the Dodd-Frank Act, the establishment of the Financial Stability Board, and attempts to regulate shadow banking – are evaluated for their effectiveness. It is found that there is a high risk of a new bubble developing, there remains a lack of transparency in the financial industry, and risk-taking continues to be incentivised among bankers and investors. Proposals are put forward to ameliorate the risks, arguing for the need for an international lender of last resort, recalling Keynes’ idea for an International Clearing Union. This book will be of significant interest to scholars and students of financial crises, financial stability, and alternative approaches to finance and economics.
A Crisis Of Beliefs
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Author : Nicola Gennaioli
language : en
Publisher: Princeton University Press
Release Date : 2018-09-11
A Crisis Of Beliefs written by Nicola Gennaioli and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-11 with Business & Economics categories.
How investor expectations move markets and the economy The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today’s most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people—and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today’s unpredictable financial waters.