A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers Audiobook (Free)

One of the primary questions of the financial crisis is not answered until today: What happened in Lehman Brothers and just why was it permitted to fail, with aftershocks that rocked the global economy? With this news-making, frequently astonishing book, a former Lehman Brothers Vice Chief executive provides us the straight answers-right in the belly from the beast.

WITHIN A Colossal Failing of Common Sense, Larry McDonald, a Wall Street insider, discloses, the culture and unspoken guidelines of the overall game like no book about A Colossal Failure of GOOD SENSE: The Inside Story from the Collapse of Lehman Brothers offers ever done. The book is definitely couched in the very human tale of Larry McDonald’s Horatio Alger-like rise from a Massachusetts “gateway to nowhere” housing project to the New York head office of Lehman Brothers, home of one of the world’s toughest trading flooring.

We obtain a close-up watch of the individuals in the Lehman collapse, specifically those who saw it plainly coming having a helpless, furious certainty. We meet up with the Brahmins at the top, whose reckless, pedal-to-the-floor dependence on development finally demolished the country’ s oldest expense 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 inside a potent combine that sometimes fuels wealth but sometimes destroys it.

The full significance of the dissolution of Lehman Brothers remains to be assessed. But this much is certain: it was a damaging blow to America’s-and the world’s-financial system. And it need not have happened. This is actually the tale of why it do.