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John Wiley & Sons
April 2010
On Sale: April 12, 2010
297 pages
ISBN: 0470540869
EAN: 9780470540862
Paperback
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Non-Fiction
They were the Rat Pack of Wall Street. Four close friends:
one a decorated war hero, one an emotional hippie, and two
regular guys with big hearts, big dreams, and noble aims.
They were going to get rich on Wall Street. They were going
to prove that men like them ? with zero financial training -
could more than equal the Ivy-League-educated white shoe
bankers who were the competition. They were going to create
an institution for men like them -- men who were hungry and
untrained ? and they were going to win, but not at the cost
of their souls.In short, they were going to be the good guys
of Finance.Under their watch, Lehman Brothers started to
grow and became independent again in 1994. But something had
gone wrong on the journey. The men slowly, perhaps
inevitably, changed. As Lehman Brothers grew, so too did the
cracks in and among the men who had rebuilt it.Ward takes
you inside Lehman?s highly charged offices. You?ll meet
beloved leaders who were erased from the corporate history
books, but who could have taken the firm in a very different
direction had they not fallen victim to infighting and their
own weaknesses. You will encounter an unlikely and almost
unknown Marcus Brutus, who may have had more to do with
Lehman?s failings than anyone?including Dick Fuld, who has
widely been considered the poster-child for the mistakes and
greed of all bankers.What Ward uncovers is that Lehman may
have lost at the risky games of collateralized debt
obligations, swaps, and leverage but that was just the end
of a bigger story. "Little Lehman" was the Wall Street shop
known to be forever fighting for its life and somehow
succeeding. On Wall Street it was cheekily known as "the cat
with nine lives." But this cat pushed its luck too far --
and died, the victim of men and women blinded by arrogance.
Come inside The Devil?s Casino and see how good men lose
their way, and see how a firm that rose with the glory and
bravado of Icarus fell burning in flames not so much from a
sun, but from a match lit from within.
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