This book is a detailed account of the fall of Lehman Brothers, the reorganization and mergers of Goldman-Sachs, Morgan-Stanley, Merrill-Lynch, Wachovia-Wells Fargo, the genesis of the TARP fund, and the nationalization of the banks. The story gives the listener the sense of the desperation and breakneck pace of the total reorganization of Wall Street and US National Banking. The key protagonists in this history-memoir are the Dartmouth alums Hank Paulson and Tim Geithner who were facing down what they thought was an imminent economic collapse and the pressure points they used to avert the disaster. If there is any one lesson from this, it is that the fall of Lehman was mostly a matter of bad timing and the tension between Paulson and Fuld. The book does not seek to analyze the root economic causes of the fall of Wall Street other than excessive risk-taking and over-leveraging and does not provide the details of the accounting mischief like House of Cards and Smarted Guys in the Room. But the human story behind the deals is well depicted. It is a long but a compelling listen.
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