Download È eBook, PDF or Kindle ePUB Ä William D. Cohan
Download È eBook, PDF or Kindle ePUB Ä William D. Cohan Bear Stearns and the end of the Second Gilded Age on Wall Street Bear Stearns serves as the Rosetta Stone to explain how a combination of risky bets corporate political infighting lax government regulations and truly bad decision making wrought havoc on the world financial systemCohan’s minute by minute account of those ten days in March makes for breathless reading as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm and as Treasury Secretary Henry Paulson New York Federal Reserve Bank President Tim Geithner and Fed Chairman Ben Bernanke began to realize the dire of Cards A Tale of MOBI : conseuences for the world economy should the company go bankrupt But HOUSE OF CARDS does than recount the incredible panic of the first stages of the financial meltdown William D Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down He chronicles the swashbuckling corporate culture of Bear Stearns the strangely crucial role competitive bridge played in the company’s fortunes the brutal internecine battles for power and the deadly combination of greed and inattention that helps to explain why the company’s le.
Read House of Cards A Tale of Hubris and Wretched Excess on Wall Street
House of Cards A Tale of Hubris and Wretched Excess on Wall Street characters ñ eBook, PDF or Kindle ePUB ↠ ➻ [Download] ➸ House of Cards A Tale of Hubris and Wretched Excess on Wall Street By William D. Cohan ➺ – Citybreakscheap.co.uk On March 5 20 [Download] House of Cards A Tale of Hubris and Wretched Excess on Wall Street By William D. Cohan Citybreakscheap.co.uk On March 5 2008 at 1015 AM a hedge fund manager in Florida wrote a post on his investing advice Web site that included a startling statement about Bear Stearns Co the nation’s fifth largest investme On March at Cards A MOBI AM a hedge fund House of ePUB manager in Florida wrote a post on his investing advice Web of Cards A PDF/EPUB site that included a startling statement about Bear Stearns Co the of Cards A Tale of MOBI : nation’s fifth largest investment bank “In my book they are insolvent”This seemed a bold and risky statement Bear Stearns was about to announce profits of million for the first uarter of had billion in cash on hand and as the company incessantly boasted had been a colossally profitable enterprise in the eighty five years since its foundingTen days later Bear Stearns no longer existed and the calamitous financial meltdown of had begunHow this happened – and why – is the subject of William D Cohan’s superb and shocking narrative that chronicles the fall of.
William D. Cohan Ä 7 Summary
House of Cards A Tale of Hubris and Wretched Excess on Wall StreetAders ignored the danger lurking in Bear’s huge positions in mortgage backed securitiesThe author deftly portrays larger than life personalities like Ace Greenberg Bear Stearns’ miserly take no prisoners chairman whose memos about re using paper clips were legendary throughout Wall Street; his profane colorful rival and eventual heir Jimmy Cayne whose world champion level bridge skills were a lever in his corporate rise and became a symbol of the reasons for the firm’s demise; and Jamie Dimon the blunt talking CEO of JPMorgan Chase who won the astonishing endgame of the saga the Bear Stearns headuarters alone were worth than JP Morgan paid for the whole company Cohan’s explanation of seemingly arcane subjects like credit default swaps and fixed income securities is masterful and crystal clear but it is the high end dish and powerful narrative drive that makes HOUSE OF CARDS an irresistible read on a par with classics such as LIAR’S POKER and BARBARIANS AT THE GATEWritten with the novelistic verve and insider knowledge that made THE LAST TYCOONS a bestseller and a prize winner HOUSE OF CARDS is a chilling cautionary tale about greed arrogance and stupidity in the financial world and the conseuences for all of us..