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  • Published: New York : Crown Business, c2009.
  • Year Published: 2009
  • Edition: 1st ed.
  • Description: xi, 351 p. ; 25 cm.
  • Language: English
  • Format: Book

ISBN/Standard Number

  • 9780307588333
  • 0307588335

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A colossal failure of common sense : the inside story of the collapse of Lehman Brothers

by McDonald, Lawrence G.

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Where To Find It

Call number: 332.62 McD

Additional Details

Includes index.

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--arguing that this collapse need not have happened.

Community Reviews

Definitely worthwhile

I found this book to be one of the clearest expositions of how the financial crisis erupted, and the policies and practices in government and business that allowed it to erupt. While the author can be, at times, remarkably unaware of how remarkably self-centered he is, it is nevertheless true he knows what he's talking about and he tells the story vividly, even excitingly. In particular, thanks to his exposition, I finally understand just what a mortgage-backed security derivative is, and why they were so amazingly toxic to the financial system and the economy. He is also very good on the policy background that led to the crisis over the decades prior to the meltdown.

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