by Vicky Ward
First published 2010
Lehman Brothers collapsed on September 14, 2008, triggering a financial crisis that changed the world. Vicky Ward takes readers inside the investment bank to show exactly how it happened. She traces twenty years of decisions that led to the firm's destruction, from the feudal corporate culture that helped Lehman survive earlier crises to the egos and survival instincts that ultimately became its downfall. Ward examines whether Lehman's failure was a critical mistake that sparked the broader credit crisis, or if other financial institutions sacrificed the firm to save themselves. Drawing on access to key players and deep knowledge of Wall Street, she reconstructs the crucial weekend when Lehman's fate was sealed. The book exposes the individuals, institutions, and choices responsible for one of the most controversial corporate failures in history, showing how those decisions continue to shape our financial system today.
Genres: business, economics, non-fiction, 21st-century, finance
Vibes: intimate, suspenseful, thought-provoking
Tropes: corporate-greed, institutional-corruption
Setting: Wall Street
Period: 2008
296 pages · Hardcover · WILEY