The Devil's Casino : Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers Hardback
by Vicky Ward
The inside story of what really happened at Lehman Brothers andwhy it failed
In The Devil's Casino: Friendship, Betrayal, and the High StakesGames Played Inside Lehman Brothers, investigative writer andVanity Fair contributing editor Vicky Ward takes readers insideLehman's highly charged offices. What Ward uncovers is a muchbigger story than Lehman losing at the risky game of collateralizeddebt obligations, swaps, and leverage.
A can't put it down page turner that opens the world of WallStreet to view unlike any book since Bonfire of the Vanities,except that The Devil's Casino isn't fiction. * Details what went on behind-the-scenes the weekend LehmanBrothers failed, as well as inside Lehman during the twenty yearspreceding it * Describes the feudal culture that proved both Lehman's strengthand its Achilles' heel * Written by Vicky Ward, one of today's most connected businessand finance writers
On Wall Street, Lehman Brothers was cheekily known as "the catwith nine lives." But as The Devil's Casino documents, this catpushed its luck too far and died?the victim of men and womenblinded by arrogance.
- Format: Hardback
- Pages: 288 pages, Illustrations
- Publisher: John Wiley and Sons Ltd
- Publication Date: 18/03/2010
- Category: Financial crises & disasters
- ISBN: 9780470540862
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Review by Schmerguls
This is an account of the history of Lehman Brothers, which filed for bankruptcy on Sept 15, 2008. The author is a Britsh-born investigative reporter. The author did much interviewing and tells an exciting story, But the story is much more likely to be understood by someone in the same business as Lehman Brothers was in. There is not much expalanation as to how Lehman Brothers operated and I would have appreciated more detail in regard to the actual things Lehman Brothers did. One cannot help but be repelled by the extravagant life style of the people involved in the crash of the company and naively feeling that they brought their troubles on themselves.