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Fred

Hebron, IN, USA

2
HELPFUL VOTES
  • 1 reviews
  • 3 ratings
  • 13 titles in library
  • 0 purchased in 2014
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  • A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers

    • UNABRIDGED (16 hrs and 38 mins)
    • By Patrick Robinson, Lawrence G. McDonald
    • Narrated By Erik Davies
    • Whispersync for Voice-ready
    Overall
    (111)
    Performance
    (24)
    Story
    (23)

    One of the biggest questions of the financial crisis has not been answered until now. What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers - right from the belly of the beast.

    Susan says: "First take: Tale of the narcissist"
    "Useful but a little self serving"
    Overall

    For a number of reasons the Lehman bankruptcy is a very important and painful personal event in the context of my own financial and business interests.

    So while the author does adequately remind us that hindsight is always 20/20, I was a little tired of hearing repeatedly of the absolute world class brilliance of various Lehman trading teams. While I am in no position to determine whether these claims of brilliance are correct, I do have to continually remind everyone that anyone in the senior manager position or above at this company has to be considered fairly complicit in this collossal failure.

    That being said, the book is a nice, easy to listen to narrative of the insanity that led to this collapse. The author's point of view is well positioned and the personal stories are helpful. Its a little more autobiographical than I thought it would be, but that's OK.

    As a senior unsecured creditor myself, I wish it would have shed more light on the potential outcome of the bankruptcy, but that's probably another book all together.

    2 of 3 people found this review helpful

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