AColossalFailureofCommonSense_TheInsideS.epub

This book is respectfully dedicated to the many thousands of Lehman employees whose lives were thrown into turmoil when the firm collapsed, and among whom I was privileged to work for the four best years of my life. Contents Prologue 1 A Rocky Road to Wall Street 2 Scaring Morgan Stanley to Death 3 Only the Bears Smiled 4 The Man in the Ivory Tower 5 A Miracle on the Waterway 6 The Day Delta Air Lines Went Bust 7 The Tragedy of General Motors 8 The Mortgage Bonanza Blows Out 9 King Richard Thunders Forward 10 A $100 Million Crash for Subprime’s Biggest Beast 11 Wall Street Stunned as Kirk Quits 12 Fuld, Defiant to the End Epilogue Acknowledgments Cast of Characters Lehman Brothers (31st Floor) / Members of the Executive Committee Richard S. Fuld Jr.: chairman of the board and chief executive officer Joseph Gregory: president and chief operating officer David Goldfarb: former chief financial officer; former global head of principal investing; chief strategy officer Christopher O’Meara: chief financial officer, 2005–07; chief risk officer Erin Callan: managing director and head of hedge fund......