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A Colossal Failure of Common Sense by Lawrence G. McDonald, Lawrence G. Mcdonald, Patrick Robinson (2009, Hardcover) 
A Colossal Failure of Common Sense by Lawrence G. McDonald, Lawrence G. Mcdonald, Patrick Robinson (2009, Hardcover)

 
A Colossal Failure of Common Sense by Lawrence G. McDonald, Lawrence G. Mcdonald, Patrick Robinson (2009, Hardcover)

Publisher: Crown Pub
Publication Date: 2009-07-21
Language: English
Format: Hardcover
ISBN-10: 0307588335
ISBN-13: 9780307588333
Product ID: EPID72707551
Description: Of all the astonishing and unfathomable collapses which have wracked the economic landscape in the first decade of the 21st century, perhaps none has been so baffling as that of Lehman Brothers, a 150-year-old financial institution which...
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Synopsis
Of all the astonishing and unfathomable collapses which have wracked the economic landscape in the first decade of the 21st century, perhaps none has been so baffling as that of Lehman Brothers, a 150-year-old financial institution which seemingly evaporated overnight and left an expanding circle of devastation in its wake. Lawrence G. McDonald, a former vice president of the company, attempts to explain the logistics of the disintegration, eventually tracing the trail of mistakes to a single ill-conceived home loan near San Francisco. McDonald is scathing in his criticism of the former leaders of the firm, whom he claims could have applied a tourniquet to the damage at any time, but instead chose to continue recklessly pursuing their flawed strategies of endless expansion at all costs. With an assist from Patrick Robinson, co-author of the riveting LONE SURVIVOR, McDonald crafts a terrifying portrait of how the greed and arrogant ambition of a privileged few has permanently damaged the chances of prosperity for millions of people around the world.

Details
Publication Date:2009-07-21

Size
Length:351 pages
Height:9.5 in
Width:6.5 in
Thickness:1.5 in
Weight:23.2 oz

Industry Reviews
"Reading...A COLOSSAL FAILURE OF COMMON SENSE, one might be tempted to think that Lehman's bankruptcy, whatever its supposed effects on the wider world, was too mild a punishment for the firm's management. The book is, in part, a brief against Lehman's former chief executive, Richard Fuld, who appears by turns ­arrogant, stupid, greedy, reckless and clueless.
(08/11/2009)

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