August 2023
Intermediate to advanced
818 pages
28h 27m
English
Lehman was the self-proclaimed innovator in global finance, and one of the oldest and the fourth largest of the Wall Street investment banks. Under the command of its tough CEO, Dick Fuld, Lehman Brothers had distinguished itself as the aggressive outlier in the international investment banking community, and had an apparently insatiable appetite for risk and return. All of this chutzpah rapidly unwound with the advance of the global financial crisis in 2008, and when the bank found itself in serious financial trouble, there was no one willing to help. The doctrine of moral hazard up to this point had been observed in principle rather than practice in terms of the central banks and ...
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